While the end of the government shutdown in the US and whether economic data will be released continues to be the main agenda topic, a surprise move came from a surprise altcoin.

At this point, blockchain-based fintech company Telcoin (TEL) has received final approval to establish a digital asset bank in Nebraska.

Telcoin has received final approval from the Nebraska Department of Banking and Finance to establish the Telcoin Digital Asset Bank, the first regulated digital asset custodian in the United States, according to an official statement.

This approval allows Telcoin to link US bank accounts with regulated stablecoins and facilitate seamless integration with decentralized finance (DeFi) platforms.

This approval also includes the creation of eUSD as the country’s first bank-issued stablecoin.

The company also stated that this approval will allow it to offer services by connecting its proprietary stablecoin, eUSD, with US bank accounts.

With this approval, the company’s flagship product, eUSD, will become the first bank-issued on-chain US dollar stablecoin, offering consumers and businesses a secure and compliant way to use Digital Cash for payments, remittances, and savings.

This development also puts Telcoin in a leading position combining traditional banking with the burgeoning DeFi ecosystem, offering US consumers a regulated path to digital money.

Telcoin (TEL) gained as much as 120% today after receiving approval to establish the first regulated digital asset bank in the US, but TEL gave some back and continues to trade at $0.0055, up 82%.

*This is not investment advice.

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Source: https://en.bitcoinsistemi.com/surprise-altcoin-receives-major-approval-from-the-us-sees-huge-price-jump/

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