Telcoin, Inc. The Digital Asset Depository Charter hearing is set for December 5, 2024.
Telcoin aims to be the first regulated crypto bank and stablecoin issuer. Telcoin's Digital Asset Depository Charter hearing has been rescheduled for December 5, 2024. Approval of Telcoin's Bank Charter is expected after the hearing in early 2025.
Telcoin, Inc. It is about to hold a critical hearing on its application to become the first regulated digital asset bank in the United States.
The hearing, scheduled for December 5, 2024, will be a critical step in the company's efforts to obtain a digital asset repository charter under the Nebraska Financial Innovation Act (LB 1074, 2024). The public hearing will be held at 9:00 AM CST at the First Nebraska Administration Building located at 1526 K Street, Lincoln, Nebraska.
Telcoin's application to become a bank regulated by the Fed
A digital asset depository charter application submitted to the Nebraska Department of Banking and Finance has already made significant progress.
In September 2024, Telcoin's application to establish Telcoin Bank, a digital asset bank, was deemed complete and received approval. This marks a major milestone for the company, which has been working closely with key figures such as Congressman Mike Flood, who helped develop the Nebraska Financial Innovation Act of 2021. Mike Flood won a US House seat representing Nebraska's capital city with Trump's endorsement. City and surrounding areas in the recent US election.
The Nebraska Financial Innovation Act, part of the broader Nebraska Innovation Act, was instrumental in facilitating the state's efforts to position itself as a leader in digital asset regulation.
If the application for the Digital Asset Depository Charter is approved, Telcoin Bank will be the first US-based digital asset bank and the first global pioneer to issue what the company calls “digital cash”.
Telcoin's stablecoins will be the backbone of Telcoin's exchange service and are designed to disrupt the $160 billion stablecoin market by providing a more usable and integrated cryptocurrency. The company is positioning digital cash as a mainstream global payments solution by making it easy to make direct merchant payments and enabling decentralized finance (DeFi).
CEO Paul Nunner emphasized the importance of this development in Telcoin's recent community update. In the year He pointed out that the public hearing to be held on December 5 is a big step towards the approval of Telcoin Bank's official charter, which is expected in early 2025.
Telcoin aims to provide blockchain-based banking products.
Telcoin's goal is to integrate blockchain-based banking products and services, including crypto staking, and digital assets into the global banking system.
Telcoin's ambitions have attracted attention from mobile network operators (MNOs) and the global fintech community.
Recent events such as Flyover FinTech, hosted by Congressman Mike Flood, have highlighted Telcoin's vision to become the cornerstone of the future of payments and mobile finance. In addition, the company has successfully raised funds to support the development of Telcoin Bank, including a pre-series fundraising that attracted significant investor interest.
The company's global reach and innovation in blockchain banking promises to change the landscape of financial services in the coming years.
