ST. PETERSBURG, Fla.– Velera said it has launched a new Digital Asset Lab designed to position credit unions as leaders in the stablecoin and digital asset space “through industry engagement, education, strategic partnerships and pilot programs.”
Velera said 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.
“This will include Velera-engaged joint ventures to help address needs like distributed ledger infrastructure and connectivity, blockchain networks, interoperability needs, core banking integrations and more by evaluating, assessing and developing tailored solutions,” Velera stated.
First Platform Partner
The first platform partner will be Metallicus, a pioneering fintech bridging traditional finance with advanced solutions built on blockchain technology.
As a strategic investor in Metallicus, Velera said it is partnering with the organization to explore how its multi-purpose blockchain infrastructure enables quick learning, testing and building of solutions most important to Velera’s Digital Asset Lab efforts.
Velera said the Digital Asset Lab, which will first open to participants in Velera’s Innovation Alliance, will comprise platform partners and credit unions that 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.”
Velera said the Digital Asset Lab will have a broad reach, creating platforms for credit unions to elevate collaboration and open access to innovative technology.
‘Quick to Market Approach’
“These novel solutions will allow for increased speed, differentiating credit union solutions through advanced digital asset capabilities with a quick-to-market approach and an inclusive platform designed to benefit all financial institutions,” Velera said.
For info: velera.com/emerging-services.
