DALLAS– BankSocial is reporting it has become the first Web3 platform live on the Federal Reserve’s new payment rails, with the result being “faster, cheaper, and more direct money movement to credit unions,” according to the company.
The new functionality follows enactment of Modernizing Payments To and From America’s Bank Account Act.
According to BankSocial, its infrastructure is:
- The only Web3 platform with credit unions and banks already receiving funds on the new rails.
- The first bridge from Federal Reserve payments directly to a self-custody crypto/stocks/cash account wallet.
- “Future-proofed” with Google’s AI-to-AI platform for intelligent agent payments.
“While others are still catching up, we’re already live,” CEO and Founder John Wingate said in a statement. “This is a milestone not just for technology, but for the communities we serve. We’ve built the rails that give members instant settlement, true ownership, and institutions a way to compete without ceding control to Why It Matters
According to BankSocial, the development is significant because it provides:
- Instant Settlement: Payments clear in seconds, not days.
- True Ownership: Consumers maintain full custody of their funds through self-custody wallets.
- Community First: Credit unions and community banks remain in control of modern payments, rather than surrendering them to large technology companies.
“The new system is live, secure, and already in the hands of members—modernizing payments for the future of financial services.
AI-Powered Digital Wallet Infrastructure
Separately, the company said it has launched its integrated digital wallet and AI agent infrastructure, which it said brings artificial intelligence and stablecoins directly into the financial mainstream.
According to BankSocial, the new platform enables:
- AI-to-AI Payments: Instant, secure money movement between trusted agents.
- Stablecoin Integration: Digital currencies embedded alongside debit and credit cards.
- Interoperable Rails: Payment-agnostic infrastructure that connects legacy banking with digital assets.
“AI agents are the next adoption catalyst in financial services,” Wingate said in a statement. “From paying bills to reordering household essentials, these tools will transform how members interact with their money. Institutions that embrace this shift early will own the future of financial engagement.”
According to BankSocial, by embedding AI and digital currency tools directly into regulated banking environments it can provide credit unions and community banks with a secure alternative to unregulated apps, while ensuring members “retain trust, safety, and convenience.”
Looking Forward
“Imagine your EV paying for its own charging, your fridge reordering groceries, or your AI assistant settling monthly bills,” the company said. “BankSocial’s infrastructure makes this vision possible—today. Imagine stock being sold or crypto being sold or leveraged in real time to do this, or regular cash accounts.”
