The CrossState Credit Union Association and Metallicus have launched a new innovation initiative aimed at helping credit unions explore stablecoins, blockchain infrastructure, digital identity and faster payments through executive education and simulated testing environments.
The Innovation Program 2.0 launched with an initial group of 50 credit unions in New Jersey and Pennsylvania. The organizations said it represents one of the largest coordinated blockchain and stablecoin initiatives among regional credit union associations.
The program came as credit unions continue evaluating emerging technologies tied to payments modernization, fraud prevention and digital financial infrastructure, the organizations said.
Participating CrossState member credit unions will have access to educational resources, collaborative opportunities and testing environments designed to help them evaluate blockchain-related technologies without operational disruption, core integration requirements or member-facing risk.
"Credit unions are looking for practical ways to better understand how emerging technologies may impact payments, operations, fraud prevention and member experience," Patrick Conway, president/CEO of CrossState Credit Union Association, said. "This initiative gives our member credit unions access to education, collaboration and hands-on evaluation opportunities that support informed decision-making while maintaining the governance and trust that credit unions are known for."
A central component of the initiative is the Stablecoin Sandbox Program, which allows participating credit unions to test a personalized, credit union-branded stablecoin in a simulated environment without using real funds, reserves or member accounts.
The program was designed to help credit union leadership teams better understand issuance models, permissions, transaction flows, governance structures and operational considerations tied to stablecoins.
"Launching this initiative with CrossState and an initial 50-credit-union commitment creates immediate momentum for collaborative learning," Frank Mazza, director of blockchain and digital assets for credit unions at Metallicus, said. "Our goal is to help credit unions better understand how stablecoins, digital identity and faster payments may support future operational and member service strategies."
Participating credit unions will also be able to explore areas including faster payments and digital wallet infrastructure, digital identity and fraud prevention, compliance automation and auditability, treasury management workflows and cross-border payments.
Metallicus is a CUSO focused on blockchain, digital asset and stablecoin technology. The company said it develops and operates its infrastructure internally rather than relying on third-party providers.
CrossState represents more than 400 credit unions across New Jersey and Pennsylvania, which hold more than $93 billion in assets and serve more than 5.9 million members.
Joyce Moed can be reached at joyce.moed@arc-network.com.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.