DENVER and GLASTONBURY, Conn. — DaLand CUSO said it has begun the implementation phase of a collaboration with Circuit CUSO to provide participating credit unions with access to production-ready digital asset infrastructure as part of Circuit’s broader Digital Asset Initiative.
According to DaLand CUSO, the collaboration marks Phase 2 of Circuit’s initiative, moving participating credit unions from education and research into real-world implementation and evaluation of digital asset technologies.
Under the program, participating institutions will gain access to DaLand’s CODE Engine and Coin2Core platforms, which the company said connect directly to live digital asset networks, including Bitcoin, Ethereum and the USDC stablecoin, through Corelation KeyStone, Fiserv DNA and Jack Henry Symitar core processing systems.
Maintaining Custody
DaLand said its Hybrid Custody architecture enables credit unions to maintain custody of members’ digital assets, preserve member relationships and retain transaction data and liquidity rather than directing members to third-party platforms.
The announcement comes as credit unions continue evaluating how digital assets and tokenized financial products may fit within their existing technology strategies following the enactment of the GENIUS Act and continued congressional consideration of broader digital asset legislation.
Credit Unions Using Solution
DaLand said its technology is already operating in production at several credit unions, including:
- St. Cloud Financial Credit Union in Sartell, Minn., with $430 million in assets, which launched its CU-Digital Asset Vault using Coin2Core architecture and became one of the first U.S. credit unions to issue its own stablecoin, $CLDUSD.
- Canvas Credit Union in Lone Tree, Colo., with $5 billion in assets, which deployed Coin2Core within its Jack Henry Symitar core system and later became an owner of DaLand CUSO.
- Blaze Credit Union in Falcon Heights, Minn., with $4.5 billion in assets, which also became a DaLand owner and operates the platform in its production environment.
DaLand said those deployments extend its production footprint to credit unions representing more than $10 billion in combined assets. The company added that its integrations with Corelation KeyStone, Fiserv DNA and Jack Henry Symitar provide thousands of credit unions with a path to connect to digital asset networks through their existing core systems.
Worth Owning
“As we evaluated digital asset infrastructure, we weren’t looking for another concept to study—we were looking for a solution we believed in enough to own,” David Pierce, chief information officer at Canvas Credit Union, said in a statement. He said the institution viewed DaLand’s core integration, custody model and regulatory approach as aligning with its long-term strategy.
Jed Meyer, CEO of St. Cloud Financial Credit Union, said credit unions need “an operating model that protects the member relationship today and still works five or 10 years from now.”
Justin Burleson, senior vice president and chief operating and financial officer at Blaze Credit Union, said the institution invested in infrastructure designed to keep digital asset activity within the credit union rather than relying on outside providers.
The Goal
Jon Ungerland, DaLand’s chief of staff and founding partner, said the company’s goal is to enable credit unions to maintain control of digital asset services regardless of which technologies or payment rails ultimately gain widespread adoption.
Rather than focusing on a single cryptocurrency or payment network, DaLand said its strategy is to build infrastructure capable of supporting Bitcoin, stablecoins, tokenized deposits and future digital asset technologies while allowing credit unions to retain control over member relationships and institutional data.
Circuit said its role is to help participating institutions evaluate emerging technologies collaboratively rather than individually.
According to Circuit, the organization has spent the past year bringing together credit unions, core providers and industry experts to develop educational resources on digital assets. The implementation phase is intended to allow participating institutions to test multiple approaches in production environments, address governance and compliance issues, measure results and share lessons with other credit unions.
Innovating Together
“One of Circuit’s greatest strengths is helping credit unions explore innovation together,” Ethan Cunningham, Circuit’s chief strategy officer, said in a statement. “Innovation moves faster when credit unions share what they’re learning.”
Circuit describes itself as a collaborative network of 80 credit unions and CUSOs focused on research, development and emerging technology initiatives. DaLand CUSO said its credit union owners include St. Cloud Financial Credit Union, Blaze Credit Union, Altra Federal Credit Union and Canvas Credit Union.
