Credit: WrongWay
With interest in stablecoins and tokenized deposits surging across the financial sector, Velera has announced the creation of its new Digital Asset Lab, a collaborative platform designed to explore real-world applications of blockchain-enabled payments for credit unions.
Velera, the country’s largest payments CUSO, said the lab will support credit unions through education, partnerships and pilot programs focused on programmable money, digital asset infrastructure and emerging settlement models.
“Stablecoins, which combine the speed of digital payments with the stability of traditional currency, are emerging to be a potentially pivotal force in global finance,” Vladimir Jovanovic, vice president of Innovation at Velera, said. “It is vital for credit unions to understand their roles and responsibilities when it comes to these digital assets to meet members’ needs and uphold cooperative principles to help shape the future of digital finance.”
The lab’s first platform partner will be Metallicus, a fintech specializing in blockchain infrastructure. Velera is also a strategic investor in Metallicus and plans to leverage its technology to explore use cases in settlement, shared branching and cross-border payments.
“Joining Velera’s Digital Asset Lab is a significant step in our mission to deliver safe, scalable and compliant blockchain-powered solutions for credit unions nationwide,” Metallicus Co-founder and CEO Marshall Hayner said.
Initially housed within Velera’s Innovation Alliance, the lab will work with credit unions to develop proofs of concept and launch early-stage pilots around stablecoins and tokenized deposits, with long-term plans to expand into smart contracts, digital IDs and other advanced technologies.
“The Digital Asset Lab is geared toward identifying the right approaches for different aspects of digital finance,” Jovanovic said.
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