PLANO, Texas– Cornerstone Resources, a subsidiary of the Cornerstone Credit Union League, said it is partnering with BankSocial to allow credit unions to offer cryptocurrency to their members.
“Launching a unique combination of scalable features, BankSocial provides a cutting-edge solution to challenges faced by credit unions today,” Cornerstone Resources said. “A division of Fivancial, Inc., BankSocial CUSO offers an easy-to-implement, self-custody crypto exchange, including major tokens such as Bitcoin, Ethereum, MATIC, and HBAR.”
It noted that Fivancial is a fintech that offers a variety of services on a distributed ledger to businesses and individuals. Additional components of the BankSocial platform are available to credit unions that are enrolled in the BankSocial charter agreement, according to Cornerstone Resources.
“The BankSocial platform helps credit unions diversify into the coming transformation of how traditional, and new non-traditional, banking services are delivered and executed, ensuring they remain relevant to future generations of consumers while growing deposits and revenue,” Cornerstone Resources EVP and Chief Revenue Officer Ryan Dold said in a statement. “We are excited to help bring these capabilities to the market.”
‘Evolving Landscape’
BankSocial’s COO is Becky Reed, the former CEO of Lone Star Credit Union.
“As members’ needs and the economic landscape evolve, so must credit unions,” Reed said in a statement. “In offering innovative solutions such as non-custodial digital asset services, BankSocial is paving the way for the next generation of credit union members.”
As part of the partnership, Cornerstone Resources said its member CUs are eligible to reserve preferential terms for the BankSocial platform.
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