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TruStage Pilot for Credit Unions: USD Stablecoin TSDA
Odaily Planet Daily reports that financial technology and insurance company TruStage is piloting the issuance of the US dollar stablecoin TruStage Stablecoin (TSDA). The stablecoin is issued by an entity affiliated with TruStage and supported by technology and operations from Block Time Financial. TSDA is backed by a 1:1 cash reserve managed by TruStage.
TruStage serves approximately 93% of credit unions in the United States, offering insurance, investment, and retirement financial products. This stablecoin project aims to provide new payment infrastructure for credit unions and explore the application scenarios of stablecoins in the traditional financial system following the implementation of the GENIUS Act.