Tennessee

The Tennessee Bankers Association (TBA), a trade group representing the state’s commercial banks, has selected Stablecore as a preferred technology provider for digital asset services, highlighting growing interest among regional lenders in crypto infrastructure.

In a Tuesday announcement, the TBA said Stablecore will provide infrastructure that enables community and regional banks to offer products such as stablecoins, tokenized deposits and digital asset-backed lending through their existing systems.

The endorsement gives Stablecore exposure to the association’s roughly 175 member institutions, potentially accelerating adoption among smaller banks that lack in-house digital asset capabilities.

The partnership reflects a broader trend among traditional financial institutions of seeking third-party providers to integrate crypto-related services rather than building the infrastructure internally.

Stablecore develops backend infrastructure that allows banks to issue and manage tokenized assets, including stablecoins and deposit tokens, while handling compliance and integration with core banking systems.

As previously reported by Cointelegraph, Stablecore recently joined the Jack Henry Integration Network, which provides digital banking technology to around 1,670 banks and credit unions across the United States.

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Banks eye digital assets as US lawmakers debate market structure rules

TSA’s endorsement of Stablecore comes as more regional lenders look to roll out digital asset services, even as US lawmakers continue to debate the regulatory framework.

Tennessee’s junior US Senator Bill Hagerty, a member of the Senate Banking Committee, said last month that there is “still a lot more work to do” before Congress can advance comprehensive market structure legislation. 

Meanwhile, Senator Thom Tillis told reporters last week that he plans to push the Senate Banking panel to take up crypto market-structure legislation when lawmakers return to session on May 11.

Proposed bills aim to clarify how stablecoins are issued and supervised, which could give banks a clearer path to offering tokenized deposits and related services.

Source: Eleanor Terrett

At the same time, banking groups continue to raise concerns about stablecoin design, particularly whether issuers should be allowed to offer yield or interest. Industry advocates argue that recent compromises fall short of fully restricting yield-bearing stablecoins, potentially blurring the line between bank deposits and digital assets.

The Independent Community Bankers of America last month called on Congress to ensure the measure addresses concerns with what it called “the harmful impact on local economies of allowing crypto exchanges and other intermediaries to pay interest or yield on payment stablecoins.”

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