On November 13, the state of Nebraska announced that it had officially granted the “first-in-nation” state charter for a digital asset bank in the US.
Governor Jim Pillen signed the charter, which will allow Telcoin Digital Asset Bank to operate from Nebraska and issue stablecoins, attract fintech companies and establish itself as a hub for digital asset innovation.
But as Wyoming Governor Mark Gordon was quick to point out, Nebraska is not quite the pioneer it claims to be; Wyoming has been walking this path for years.
Nebraska’s big news (but not the nation’s first)
Governor Pillen’s social feeds crackled with celebration when Nebraska awarded its inaugural digital asset banking charter to Telcoin, promising to mint stablecoins and create space for payments innovators. The message to crypto entrepreneurs was clear: “Nebraska is open for your business.” For a state that is rarely at the forefront of fintech, it felt like a moon landing.
But just hours later, Wyoming’s Mark Gordon reminded the world that Nebraska’s charter is hardly a first. He wrote:
“#Wyoming, which has been active in this field since 2017, welcomes Nebraska to the forefront of digital innovation, but would like to correct the record. Wyoming was “first in the nation” and Wyoming was indeed “open for business.”
Caitlin Long of Custodia Bank, who helped Wyoming become a beacon for compliant digital asset banks, applauded the Wyoming governor’s post.
“Crazy overreach for Nebraska to claim it’s the first in the nation when #Wyoming has already chartered five digital asset banks (two of which have been in operation for several years and not just recently chartered). Welcome to the party!”
Wyoming’s winding road and Caitlin Long’s perspective
Wyoming’s journey with digital asset banking started long before it was a trend. The state laid the groundwork for regulation, issued multiple banking charters and welcomed forward-thinking companies that wanted a clear legal path.
Long, known for her leadership at Avanti (now Custodia Bank), revolutionized the state’s reputation by marrying transparency with innovation, a mix that Nebraska is only now discovering.
While Nebraska is rightly proud of its progress and can lay claim to the first charter of its kind in the Cornhusker State, the broader story about digital assets goes back to Wyoming’s playbook. From tokenized assets to crypto-friendly legislation, the Equality State set the pace for others to follow.
A tale of two states in crypto
The digital asset banking race is heating up, but data matters. Nebraska’s move highlights the new energy and mainstream momentum for stablecoin banking. It promises both employment and technological partnerships. Wyoming, meanwhile, continues to quietly build the rails under much of the U.S. crypto banking infrastructure.
So what comes next? The Nebraska Charter creates real excitement (if not, a little competitive tension) among states eager to shape America’s financial future. But if there’s a lesson to be learned from this, it’s to check history before claiming a scoop.
