DALLAS — Stablecore, a fintech platform focused on helping financial institutions offer stablecoins and other digital asset products, said it has launched a new digital asset program in partnership with Circuit, a credit union service organization, and with support from Curql, a fintech investment collective backed by more than 160 credit unions.
According to Stablecore, the initial participants in the program include Texas-based RBFCU, California-based Stanford Federal Credit Union and Louisiana-based La Capitol Federal Credit Union. The three institutions collectively represent approximately $25 billion in assets.
The initiative is designed to help credit unions explore and offer digital asset products, including stablecoins, tokenized deposits, Bitcoin services, staking capabilities and digital asset on- and off-ramps through their existing digital banking platforms.
Remaining ‘Competitive’
Stablecore CEO and co-founder Alex Treece said the effort is intended to help credit unions remain competitive as members increasingly seek access to digital asset products through fintech companies, neobanks and cryptocurrency platforms.
“By enabling credit unions to offer digital asset products, we are helping them stay relevant against competitive threats, retain their deposits and continue to be the trusted, primary financial partner for their members,” Treece said in a statement.
Circuit Chief Strategy Officer Ethan Cunningham said the program will provide participating institutions with a collaborative environment to evaluate stablecoins and other digital assets while sharing insights and experiences.
‘Collaborative Space’
“This program provides a collaborative space for institutions to explore stablecoins and digital assets, learn from one another, and better understand how these technologies may shape the future of financial services,” Cunningham said.
Stablecore said the program will also include educational resources for both credit union employees and members as institutions prepare for broader adoption of digital asset technologies.
One CEO’s View
RBFCU President and CEO Mark Sekula said the credit union views participation as part of its effort to meet evolving member expectations while maintaining its focus on security and financial stewardship.
“Through this partnership, we hope to ensure the credit union advantage flourishes as a strong and relevant force in the digital asset space,” Sekula said.
Paul Jockisch, senior vice president and chief financial officer at Stanford Federal Credit Union, said the institution is seeking to balance innovation with safety as financial technologies continue to evolve.
“As money moves faster and the future of finance takes shape, we’re ensuring our members have secure access to what’s next,” Jockisch said.
New Head of Risk Appointed
Stablecore recently appointed former Federal Deposit Insurance Corp. regulator Ben Hailey as head of risk and compliance, a move the company said will strengthen governance, risk management and compliance frameworks for participating financial institutions.
Circuit, formerly known as Members Development Company, is a collaborative network of approximately 80 credit unions and credit union service organizations focused on research, development and innovation initiatives. Curql, which supported the launch, has invested in more than 50 fintech companies on behalf of its network of credit union investors.
Stablecore said its platform enables banks and credit unions to integrate stablecoins, tokenized deposits and other digital asset services into existing banking systems through a single technology platform.
