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St. Cloud Financial Credit Union in Minnesota says it will launch a dollar-pegged token called Cloud Dollar by late 2025, positioning it as the first stablecoin issued by a U.S. credit union. The project is being built with Metallicus and DaLandCUSO and will plug directly into the credit union’s core banking system so members can move money instantly at low cost.
The institution, which manages a little over 400 million dollars in assets, describes Cloud Dollar as a way to modernize payments and compete with larger banks and fintechs. External write-ups echo the timeline and “first of its kind” claim and note that the token is meant to support day-to-day transactions for members rather than trading on public exchanges.
Details released so far point to a product that sits alongside the credit union’s existing digital services. The plan is to integrate issuance and redemption into mobile and online banking so members can mint and redeem at par with clear custody and compliance controls. Social posts from the credit union promoted the initiative and directed members to follow official channels for contract and launch information.
The move arrives as U.S. policy discussions around stablecoins mature and smaller institutions look for ways to lower payment costs and speed settlement. Industry research has argued that clearer rules could pull more banks and credit unions into tokenization experiments, especially for retail transfers and treasury use cases. St. Cloud’s effort will be an early test of how community institutions adopt blockchain rails inside regulated banking.
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