On November 13, Nebraska announced its first state charter for a digital asset bank, awarded to Telcoin, aiming to become a hub for fintech innovation. However, Wyoming's governor quickly challenged the claim of being first in the nation, highlighting his state's earlier efforts in the space.
The state of Nebraska marked a milestone on November 13 when Governor Jim Pillen signed the charter for Telcoin Digital Asset Bank, described as the “first-in-nation” state charter for a digital asset bank in the U.S. This move enables Telcoin to operate from Nebraska, issue stablecoins, and attract fintech businesses, positioning the state as a center for digital asset innovation.
Governor Pillen celebrated the development on social media, emphasizing that “Nebraska is open for your business” to crypto entrepreneurs. The charter is intended to foster job creation and tech partnerships in payments and stablecoin minting.
Hours later, Wyoming Governor Mark Gordon responded, correcting the record on Nebraska's claim. In a post, he stated: “#Wyoming, who has been active in this space since 2017, welcomes Nebraska to the forefront of digital innovation but would like to correct the record. Wyoming has been “first in the nation” and Wyoming has indeed been “open for business.”
Caitlin Long of Custodia Bank, who contributed to Wyoming's digital asset banking framework, echoed this sentiment. She commented: “CRAZY overreach by Nebraska to claim it’s first-in-nation, when #Wyoming has already chartered 5 digital asset banks (of which two have been operational for multiple years, not merely chartered recently). Welcome to the party!”
Wyoming's involvement dates back years, with regulatory groundwork laid since 2017, including multiple charters and a focus on compliant digital asset operations. Long's work at Avanti, now Custodia Bank, helped establish the state as a leader in tokenized assets and crypto-friendly legislation.
While Nebraska's step signals growing state-level interest in digital assets, the exchange underscores Wyoming's pioneering role in U.S. crypto banking infrastructure.