Minnesota Community Bank Unveils First Credit Union Stablecoin

St. Cloud Financial Credit Union (SCFCU), a community-focused financial institution in Minnesota, is preparing to launch its own stablecoin. The new digital coin is called Cloud Dollar (CLDUSD), and it will be the first of its kind from a U.S. credit union. SCFCU plans to launch it in late 2025 as part of its new digital asset custody service.

SCFCU Introduces Cloud Dollar, a First for U.S. Credit Unions

Stablecoins are usually issued by fintech and crypto companies because they connect regular money with digital assets and yield better profits. However, credit unions have been slower to adopt them. With the Cloud Dollar, SCFCU wants to show that smaller banks and credit unions can also use blockchain technology to stay competitive. 

Unlike popular stablecoins like USDT or USDC that run outside the banking system, the Cloud Dollar is directly linked to SCFCU’s own banking services. The project was built through a partnership between SCFCU, blockchain firm Metallicus, and fintech provider DaLand CUSO. 

Together, they designed the Cloud Dollar to connect traditional banking with the fast-growing digital asset space. This makes it stand out, since it is both blockchain-based and backed by a trusted financial institution.

The Cloud Dollar Benefits

The Cloud Dollar stablecoin will be issued on Metallicus’s Metal Blockchain, a blockchain network designed for regulated financial services. To make the token work smoothly within SCFCU’s system, it will be connected through DaLand CUSO’s Coin2Core software.

This setup lets the credit union keep member deposits on its own platform while still offering blockchain-based payments. Members can now move money instantly, safely, and at a lower cost than regular transfers. 

For SCFCU members, the Cloud Dollar is more than just another way to pay. Transactions that once took time and carried extra costs can now be completed almost instantly. Settlements will move across blockchain networks at just a fraction of traditional fees.

The token remains firmly anchored to the credit union’s existing banking infrastructure, giving members a strong sense of regulatory assurance. This level of security is something many other digital assets are unable to provide.

Stablecoin Goes Mainstream 

The arrival of the Cloud Dollar shows a bigger change in finance as stablecoins are no longer just for crypto traders. 

They are becoming part of regular banking. Big institutions like JPMorgan have already launched their own digital tokens for payments. Other banks are also looking at tokenized deposits to make money transfers faster. 

Even credit unions are starting to take notice as SCFCU’s move shows that smaller, community-based financial groups can innovate too. Experts say Cloud Dollar could be a model for other credit unions that want to combine member-focused banking with blockchain technology. 

At the same time, newly established GENIUS Acts rules set by the Trump administration make sure stablecoins are safe, fully backed, and trustworthy for everyday use.