HARRISBURG, Pa.—The CrossState Credit Union Association and Metallicus have launched a new initiative designed to help credit unions evaluate stablecoins, blockchain infrastructure, digital identity and faster payments through executive education, sandbox testing and strategic collaboration.
Called “Innovation Program 2.0,” the initiative launches with an initial group of 50 participating credit unions across Pennsylvania and New Jersey, which the organizations said makes it one of the largest coordinated blockchain and stablecoin efforts among regional credit union associations.
According to the organizations, participating credit unions will gain access to tools and resources aimed at helping them evaluate emerging technologies without requiring core integrations, operational disruption or member-facing risk. Areas of focus include faster payments, digital wallet infrastructure, fraud prevention, treasury management and cross-border payments.
“Credit unions are looking for practical ways to better understand how emerging technologies may impact payments, operations, fraud prevention, and member experience,” said Patrick Conway in a statement. “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."
The program includes a Stablecoin Sandbox Program that allows participating institutions to test a branded stablecoin in a simulated environment without using actual funds, reserves or member accounts. The sandbox is intended to help executives better understand issuance models, transaction flows, governance structures and operational considerations tied to stablecoin deployment.
Frank Mazza, director of blockchain and digital assets for credit unions at Metallicus, said the partnership is intended to create “momentum for collaborative learning” as credit unions increasingly explore how blockchain, digital identity and faster payments technologies could support future operations and member service strategies.