- A Collective of More Than 160 U.S. Credit Unions Begins Taking Position in the Digital Asset Ecosystem
- The initiative aims to prevent deposit outflows to fintechs, neobanks, and crypto platforms.
- Participating institutions in the initial launch represent a combined US$25 billion in assets.
While large national banks and top-tier fintechs dominate the conversation around stablecoins, a key segment of the U.S. financial system—credit unions—is beginning to establish its presence in the digital asset ecosystem.
This week, Stablecore announced the launch of an early-access program in partnership with Circuit, a Credit Union Service Organization (CUSO) focused on research and development, and with the backing of Curql, a collective of more than 160 credit unions that jointly invest in fintech companies and was also an early investor in Stablecore itself.
The institutions participating in the initial rollout collectively represent US$25 billion in assets. The program enables them to offer digital asset products directly through their existing digital banking platforms, including stablecoins, tokenized deposits, Bitcoin, fiat on- and off-ramps, and staking services.
The Business Case: Deposit Retention and Competitive Relevance
The core rationale behind the initiative is not purely technological—it is strategic.
The program is designed to help credit unions retain members who might otherwise migrate to fintechs, neobanks, and cryptocurrency exchanges that already provide digital asset capabilities.
“Members trust their credit unions because they provide safe access to the financial products they care about within a single experience,” said Alex Treece, CEO and Co-Founder of Stablecore. “By enabling them to offer digital assets, we help them stay relevant against competitive threats, retain deposits, and continue serving as their members’ primary and trusted financial partner.”
A Collaborative, Peer-Led Model
The participating credit unions describe the initiative as “a collaborative environment where institutions can explore stablecoins and digital assets, learn from one another, and better understand how these technologies may shape the future of financial services.”
Curql contributes the collective investment dimension. With more than 50 fintech investments in its portfolio, the organization helps ensure that adopted technologies are specifically designed for the cooperative banking model. Its position as both an investor in Stablecore and a participant in the initiative creates a strong alignment of interests.
Governance and Compliance: A Former FDIC Regulator Joins the Team
The program extends beyond technology deployment.
It includes education and training for both credit union staff and members, with the objective of preparing institutions for long-term adoption of digital asset services.
At the same time, Stablecore recently strengthened its governance framework by appointing Ben Hailey, a former FDIC regulator, as Chief Risk and Compliance Officer. The move sends a clear signal to institutional partners regarding the company’s commitment to regulatory compliance and risk management.
Context: More Than 4,400 Institutions, Most Without Crypto Offerings
There are more than 4,400 credit unions in the United States, and Stablecore is one of several companies targeting this market.
Direct competitors include DaLand CUSO and Metallicus, which has partnered with multiple CUSOs, including Velera.
One of DaLand’s clients, St. Cloud Financial Credit Union, recently launched its Digital Asset Vault, described by Chief Lending Officer Chase Larson as a “digital safe deposit box.” The institution reported that more than 22% of its members either already own digital assets or plan to acquire them.
Stablecore has also gained significant traction in recent months. Prior to this announcement, the company was endorsed by the Tennessee Bankers Association, the North Carolina Bankers Association, and the Maine Bankers Association as a preferred provider of digital asset technology solutions for their members.
Its investor roster includes Norwest, Coinbase Ventures, Curql, BankTech Ventures, Cross River Digital Ventures, and Naval Ravikant, among others.
Implications for the Latin American Market
The cooperative financial model plays a significant role across Latin America, where credit and savings cooperatives serve tens of millions of members in countries such as Mexico, Brazil, Colombia, Ecuador, and Argentina.
Yet the integration of stablecoins and digital assets within this segment remains largely unexplored throughout the region.
The experience being developed in the United States—supported by clearer regulatory frameworks and greater asset scale—could become an important blueprint for Latin American institutions seeking to expand crypto adoption while preserving the community-trust model that has traditionally defined the cooperative sector.