ROCKY HILL, Conn.– DaLand CUSO, a fintech and consulting firm that says it’s focued on the sustainable relevance of community financial institutions, has introduced the Coin2Core Extended Ecosystem Wallet (C2C), a solution it says allows community financial institutions to use their existing core platform to vault/process cryptocurrency and digital assets for their consumers. The core-extended solution uses the open capabilities of the financial institution's core processing platform to provide a secure, local, valuable service to consumers, allowing them to store their cryptocurrency and digital assets with a trusted, local partner.
"Money is morphing and we see a substantial opportunity for local financial institutions to add value, security, confidence, and convenience to consumers/communities by locally storing/processing emerging digital currencies and assets,” said said COO Jon Ungerland in a statement. "Each month the global economy sees more users, total capital, and transactions in these portfolios and networks outside traditional banking, and we've developed an elegant, easy, hybrid solution to allow local financial institutions to use their existing core technologies to expand services while improving security and consumer experience around these new types of money."
According to DaLand CEO Jeff Levesque, this latest innovation is just another example of the way DaLand, formed as a fintech to benefit the relevance of local financial institutions, is leading community FIs towards synthesizing business strategy and technology tactics. "Global trends are indisputable, and we don't see any data or dynamics to suggest additional deposit dollars and transactions will not evaporate from the traditional, dollar-based economy and banking ecosystem,” said Levesque in a statement. The goal, he added, is to "develop and deploy solutions which help prevent the further erosion and extinction community financial institutions as essential collaborative partners in local economies.
“It's becoming increasingly difficult to imagine a world where community FIs remain relevant in the face of all these digital asset and cryptocurrency innovations, without an efficient, elegantly simple, and cost effective path to use their existing technologies to advance into service and support of these new assets and currencies,” he continued.
This latest innovation is part of DaLand CUSO's "Community Ecosphere" experience set, which provides a number of digital portals for financial institutions to extend its core banking operations beyond the teller line and out into the community, adding valuable, convenient, in-demand services to consumers and other organizations in communities surrounding local financial institutions, the organization said.