ST. PETERSBURG, Fla.– Velera is offering additional insights into the new “Digital Asset Lab” it has introduced with a goal of better positioning credit unions in the stablecoin and digital asset space, including offering new details to the CU Daily on the initial use cases.
When it recently announced the new Lab, Velera said the plan is to offer “industry engagement, education, strategic partnerships and pilot programs.”
The new Digital Asset Lab will be “anchored in facilitating industry engagement and collaboration, providing education and thought leadership, building infrastructure and forming strategic partnerships for credit union industry stablecoin and digital asset exploration,” the company said.
In addition, Velera said the Lab’s initiatives will include joint ventures to help address needs that include distributed ledger infrastructure and connectivity, blockchain networks, interoperability needs, core banking integrations and more by evaluating, assessing and developing tailored solutions”
First Platform Partner
The first platform partner will be Metallicus, a fintech that builds solutions built on blockchain technology. Velera, which is an investor in Metallicus, said the two companies will be exploring broader use of its multi-purpose blockchain infrastructure.
According to Velera, the Digital Asset Lab will initially be open to participants in its Innovation Alliance and will first focus on stablecoin and tokenized deposits research and development.
‘Proofs of Concept’
“Ultimately, this group will launch proofs of concept and pilot programs to test stablecoin initiatives and gather feedback across audiences, with a goal of launching tools and products to further credit unions’ stablecoin journeys,” Velera stated. “This will include understanding the U.S. stablecoin market and cross-border opportunities, as well as its potential role in the shared branch through new experiences and faster settlement.”
Additional Details
In response to additional questions about the Digital Asset Lab, Velera offered the following responses and insights:
The CU Daily: Does Velera have a timeline in mind for this initiative?
Velera: While our intent is to launch as soon as possible, we’re being deliberate in our approach to ensure the right foundation is built. This means carefully assembling the right mix of strategic partners and participants who can meaningfully contribute to shaping the credit union industry’s adoption of blockchain solutions.
By taking this structured approach, we aim to move quickly, but with the discipline required to deliver meaningful and scalable outcomes.
The CU Daily: For the majority of credit unions that may have awareness of, but limited knowledge of digital assets, what would this mean in practical terms?
Velera: The Digital Asset Lab is designed to demystify blockchain and digital assets for credit unions by providing a collaborative, low-risk environment to explore and test solutions. Participants will gain hands-on experience with distributed ledger technology (DLT) use cases, from settlement efficiencies to new business models, before these solutions are scaled to the wider market.
Because the Lab is built with the diverse makeup of credit unions in mind, from small to large institutions, solutions will be purpose-built to reflect the operational realities of the industry. Equally important, the insights and learnings generated in the Lab will be shared with the broader credit union community, ensuring the entire system benefits from collective innovation and knowledge.
The CU Daily: Would the solutions coming out of this primarily be targeted at members as retail offerings? If so, what kind?
Velera: Initial use cases will likely include retail-facing solutions – such as stablecoin-based money movement and settlement models – given their potential to enhance speed, reduce costs, and expand member and non-member access to digital finance.
At the same time, we expect solutions that improve internal operations – such as leveraging tokenized deposits for liquidity management or using DLT for back-office reconciliation – to be equally important.
The Lab will take a balanced approach, prioritizing solutions that both address pressing market needs and strengthen internal processes that directly or indirectly benefit members.
The CU Daily: Would these offerings be a revenue generator (NII source) for credit unions, or more of a competitive response?
Velera: Both outcomes are expected. On one hand, solutions emerging from the Lab will position credit unions competitively in an increasingly digital landscape. On the other hand, DLT-based innovations – such as tokenized asset products, faster settlement rails, or new fee-based services – create opportunities for incremental revenue and diversification of non-interest income.
The Lab’s role is to ensure credit unions prioritize use cases in the way that makes sense for them, as well as remain on the leading edge while building pathways for long-term revenue growth.
The CU Daily: Reduced costs are cited as one of the benefits. How so?
Velera: Blockchain-based settlement mechanisms, such as stablecoins and tokenized deposits, have the potential to significantly reduce costs compared to legacy rails by minimizing intermediaries, shortening settlement cycles, and lowering transaction fees.
Additionally, programmability in smart contracts could automate compliance and reconciliation processes, further reducing operational overhead.
Beyond payments, credit unions could explore efficiencies in areas such as decentralized lending, cross-institution settlements, and shared branching.
The CU Daily: For the majority of small and mid-sized credit unions, will they be able to participate? Will they need to hire expertise?
Velera: Smaller credit unions may not need to build deep in-house blockchain expertise immediately. Instead, participation in the Lab allows them to leverage shared resources, expertise, and strategic partnerships to explore digital assets collectively. Over time, some institutions may choose to build internal capacity in areas such as digital asset compliance, custody, or risk management.
However, the Lab is structured to act as a consortium, producing shared R&D and tested solutions that reduce the need for individual credit unions to shoulder the full cost of innovation independently.
The CU Daily: For credit union leaders who want to get up to speed on stablecoins and digital assets, does Velera have recommendations on how to educate themselves?
Velera: Velera provides a range of resources, including white papers, research briefs, and thought leadership content, that help credit union leaders understand both the current state of the market and its trajectory.
Beyond reading, we encourage leaders to empower their teams to participate directly in pilots, workshops, and other industry activities, as experiential learning is critical in this rapidly evolving field. We also recommend engaging with broader industry dialogues around regulation, interoperability, and risk management, ensuring leaders not only learn about digital assets but also contextualize them within the regulatory and operational frameworks and realities of credit unions.
In addition, we encourage leaders to actively follow the insights and information shared from our Lab and to reach out to us directly for further guidance or deeper engagement opportunities.
