FRANKENMUTH, Mich.–Frankenmuth Credit Union said it has become the first financial institution in Michigan to begin offering cryptocurrency services to members.
The new offering follows the launch of a new CUSO, CU Digital One, which made its first major investment by acquiring a financial stake in CryptoFi, a provider of cryptocurrency-based financial services for credit unions.
The $1.28-billion Frankenmuth CU said members can now engage with industry leading digital assets through CryptoFi’s cryptocurrency trading platform, which is accessible through both the Frankenmuth Credit Union consumer mobile app and online banking.
CryptoFi is a Cryptocurrency-as-a-Service (CaaS) company.
‘Safe & Convenient’
“Frankenmuth Credit Union is committed to ensuring our members have every chance to achieve financial success,” said CEO Vickie Schmitzer. “This means keeping up with new technology, such as developments in AI and automation, and capitalizing on opportunities to deliver innovative products and services. We are excited that FCU members now have a safe and convenient way to buy, sell, and manage cryptocurrency from a trusted source, courtesy of their hometown financial institution.”
Added Kian Sarreshteh, CEO of CryptoFi, "Our partnership with Frankenmuth Credit Union signifies our commitment to helping credit unions deliver in-demand and innovative solutions to their members. Together, we are creating a future of seamless and secure crypto transactions, empowering members to begin building a successful financial future."
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