NCUA Unveils Federal Licensing Plan for Credit Union Stablecoins
The National Credit Union Administration announced plans to establish a federal licensing framework for payment stablecoins issued by credit union subsidiaries, and to set accompanying compliance standards. The proposal targets a regulated route for credit unions to issue digital dollars while bringing those issuers under consistent federal oversight.
Regulatory clarity could broaden stablecoin issuance beyond banks, boosting competition and consumer choice while aiming to address risks such as reserve management, custody, AML controls and governance. Market participants will be watching the details and timeline; if finalized, the framework may accelerate mainstream stablecoin adoption and integrate credit unions more directly into tokenized payments infrastructure.