St. Cloud Financial Credit Union (SCFCU), a Minnesota cooperative with more than $400 million in assets, is preparing to issue a proprietary stablecoin called Cloud Dollar (CLDUSD), slated to launch with its digital asset vault in Q4 2025.
The token is being developed with blockchain firm Metallicus and credit-union technology provider DaLand CUSO. SCFCU says CLDUSD will enable instant, on-chain transfers — member-to-member, merchant payouts and institution-to-institution — at lower fees than traditional card networks while remaining directly connected to the credit union’s banking system.
“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,” said Chase Larson, EVP/CLO for St. Cloud Financial Credit Union.
Technically, CLDUSD will run on Metallicus’ Metal Blockchain and link to SCFCU’s core systems via DaLand’s Coin2Core software. The integration is designed to keep deposits on-platform while offering members regulated, near-instant settlement and lower operational costs compared with traditional rails.
The announcement arrives as stablecoins — a roughly $270 billion segment of crypto mostly pegged to the U.S. dollar — expand in payments and treasury use, and after recent U.S. regulatory clarity under the GENIUS Act.
Risks to watch: members and businesses should evaluate reserve backing, custody arrangements, operational controls and evolving rules as credit unions add crypto services. Institutional offerings that route funds on-chain still carry operational and regulatory complexity.
“Credit unions can’t afford to watch digital assets evolve without them; members need trusted institutions to navigate this space safely,” said Jeff Levesque, CEO of DaLand CUSO.
Source: CoinDesk. Read the original coverage for full details.
