TruStage, in collaboration with Block Time Financial, is set to pilot the TSDA stablecoin for credit unions. TSDA is designed to broaden access to digital payment infrastructure for community-based financial institutions.
Leading insurance and financial services provider TruStage partnered with blockchain solutions provider Block Time Financial to test a stablecoin. The TSDA stablecoin, which will be launched on the Block Time Financial blockchain platform, will be the first stablecoin specific to community-based financial institutions (credit unions).
GENIUS act creates buzz for stablecoins
Brian Kaas, President and Managing Director of TruStage Ventures, the venture capital arm of TruStage, stated, “The regulatory clarity of the GENIUS Act created a buzz among these institutions, who increasingly recognize stablecoins as a powerful payment rail for financial institutions rather than speculative crypto assets. We are working toward a collaborative stablecoin model where credit unions can thrive.”
TruStage will be onboarding credit unions to join its initial pilot launch of the program in the first half of 2026. No entry fee is planned for participants. In addition, TruStage stated that it will manage reserves with dedicated oversight, maintaining 1:1 cash backing for all issued stablecoins, ensuring stability and minimizing risk.
Tether holders grow exponentially since 2020
Meanwhile, the Tether (USDT) stablecoin holders increased exponentially since 2020. From as low as 683.5K holders back in 2020, the USDT holders have increased to 177.8 million as of now. In terms of the most number of stablecoins deployed on a blockchain platform, Ethereum holds the top place.
On the Ethereum blockchain network, around $165 billion worth of stablecoins are deployed, while the second-largest stablecoin holder is the Tron network, which holds around $85 billion in stablecoins, which is almost half the Ethereum network.
Meanwhile, Circle’s USDC stablecoins saw the highest inflows during the past 30 days, with $4.7 billion entering the coin. MakerDAO’s USDS had $656 million in inflows, while the rest of the stablecoins were leaking funds. USDT lost $1.6 billion within the last 30 days.
