Supplier settlement
Transfer a shared dollar claim between approved institutions and reconcile it against a reference held off ledger.
Development stage
A shared dollar settlement network for cooperative finance
Dollar.coop is developing a cooperative network to help participating banks and financial institutions move and reuse prefunded digital dollars on the XRP Ledger. The design combines one dollar instrument with institutional controls, reconciliation and separately contracted redemption and local-currency payouts.
Proposed settlement flow
FundAn eligible bank funds the issuer with final
dollars.
TransferApproved banks transfer the same funded token on
XRPL.
Reuse or redeemThe recipient can use its balance again or request fiat
under the issuer’s terms.
Institutional use cases
Move and reuse funded balances
Eligible banks and cooperative financial institutions would choose whether to participate and retain responsibility for their customers, treasury and regulatory approvals. Federations can convene institutions and help define requirements. Each settlement participant needs its own approval.
Treasury transfers
Reuse incoming token balances and see which funds are available or reserved.
Trade and payout corridors
Match dollar inflows to approved obligations. Local payouts depend on separate agreements and funding.
Optional design programme
Assess an institutional pilot
The proposed programme would document bank requirements, demonstrate synthetic settlement and assess one existing authorised issuer’s XRPL instrument. Institutional enquiries will open once contact routing and privacy terms are in place.
G4USD is a possible future issuer programme. It depends on verified issuer permissions, signed agreements and tested operating controls. Any cooperative service economics would require legal and tax review. The design offers no token-holder yield.
Sources checked
US regulatory register
Agency rules cover specified entities and activities. Dollar.coop remains at the development stage. Any future instrument requires its own issuer and route approvals.
18 July 2025 · Enacted
GENIUS Act
The US statute establishes a framework for payment stablecoin issuers. The OCC identifies 18 January 2027 as the Act’s effective date.
21 October 2026 · Final rule announced
OCC implementation
The OCC’s final rule for entities it supervises takes effect 18 January 2027. The OCC implementation page says application intake has yet to open.
24 September 2026 · Two proposals
Federal Reserve
The proposals cover applications by Board-supervised banks for a subsidiary to issue stablecoins and substantive standards for Board-supervised issuers and other covered entities. Both comment periods close 30 November 2026.
February and May 2026 · Proposals
NCUA
Licensing and operating proposals address the issuer pathway involving federally insured credit unions. Current NCUA guidance says federally chartered credit unions lack direct digital-asset custody authority.
Licensing proposal and custody guidance
Proposed issuer standards
17 August 2026 · Proposal
Treasury issuance and distribution
Treasury’s proposal addresses US issuance and distribution. Its notice distinguishes the 18 January 2027 framework date from the broader restriction on US offering or sale starting 18 July 2028.
30 September 2026 · Interim final rule
Treasury state certification
Procedures for reviewing state regulatory regimes took effect 30 September 2026. Comments close 30 November 2026. Certification of a regime is separate from an individual issuer’s permissions.
8 April 2026 · Joint proposal
FinCEN and OFAC
The proposal covers anti-money-laundering and sanctions compliance programmes for permitted issuers.
18 June 2026 · Joint proposal
Customer identification
FinCEN and the banking agencies proposed customer identification requirements for permitted issuers. The comment period closed 21 August 2026.
Historical market context
Two dated benchmarks
These figures describe separate markets. Institutional demand for this proposal still needs to be measured.
$317bnAggregate stablecoin market capitalisation on 6 April
2026.Federal Reserve research ↗
$2.50tnAssets in federally insured US credit unions, Q2 2026.NCUA Q2 2026 ↗