TruStage Pilot Launches Dollar Stablecoin TSDA for Credit Unions

Odaily News Financial technology and insurance company TruStage is piloting the issuance of a U.S. dollar stablecoin called TruStage Stablecoin (TSDA). This stablecoin will be issued by an entity affiliated with TruStage and will receive technical and operational support from Block Time Financial. TSDA will be backed 1:1 by cash reserves, with the reserve funds managed by TruStage.

TruStage serves approximately 93% of U.S. credit unions, providing insurance, investment, and retirement financial products. This stablecoin project aims to offer credit unions a new payment infrastructure and explore the application scenarios for stablecoins within the traditional financial system following the implementation of the GENIUS Act.