In a groundbreaking move within the financial sector, St. Cloud Financial Credit Union (SCFCU) is set to launch a proprietary stablecoin, named Cloud Dollar (CLDUSD), marking what the institution claims to be the first stablecoin initiative from a U.S. credit union. This innovative digital asset, developed in collaboration with the blockchain firm Metallicus and the financial technology provider DaLand CUSO, is scheduled to be introduced in the last quarter of 2025 as part of SCFCU’s digital asset vault service.
Chase Larson, Executive Vice President and Chief Legal Officer at SCFCU, highlighted the advantages of CLDUSD, stating, “With CLDUSD, we’re readying our shop for on-chain money movement — merchant payouts, member-to-member, institution-to-institution — at a fraction of card-network fees and with full transparency.” This initiative is set against the backdrop of a rapidly expanding stablecoin market, which has reached a valuation of approximately $270 billion, predominantly tied to the U.S. dollar.
Stablecoins have gained traction in the cryptocurrency world as they offer a more affordable and swift alternative for financial transactions, both for exchanges and general consumer use. The recent signing of the GENIUS Act by President Donald Trump earlier this year has provided a much-needed legislative boost to the stablecoin segment, facilitating a clearer regulatory framework.
The launch of CLDUSD underscores the proactive approach small financial institutions like SCFCU are taking to remain competitive in an increasingly technology-driven landscape dominated by fintech companies. Unlike mainstream stablecoins such as Tether (USDT) or USD Coin (USDC), CLDUSD aims to integrate directly with the credit union’s existing banking infrastructure, providing a unique bridge between traditional financial services and cutting-edge blockchain technology.
Metallicus’ blockchain, known as the Metal Blockchain, will serve as the foundation for CLDUSD, while DaLand CUSO’s Coin2Core software will integrate blockchain functionalities with the traditional credit union system. This setup is designed to retain deposits within the SCFCU platform, allowing members to transfer money instantaneously and at reduced costs, all while adhering to regulatory standards.
Jeff Levesque, CEO of DaLand CUSO, emphasized the necessity for credit unions to engage with digital assets, asserting, “Credit unions can’t afford to watch digital assets evolve without them; members need trusted institutions to navigate this space safely.” This sentiment reflects the growing recognition of the role that established financial institutions can play in shaping the future of digital finance, as they offer reliability and security to consumers venturing into new technological territories.
