US insurer TruStage to issue dollar-backed stablecoin TSDA

U.S. fintech and insurance company TruStage has announced plans to issue a dollar-pegged stablecoin, TSDA, The Block reported. The company will launch the stablecoin in partnership with blockchain technology firm Block Time Financial. Under the arrangement, Block Time will support operations, including security protocols, while a TruStage affiliate will act as the issuer and manage the token's 1:1 cash reserves. TruStage works with over 93% of U.S. credit unions, providing insurance products, investment solutions, retirement plans, and other financial products.