PALO ALTO, Calif.–Stanford Federal Credit Union said it has launched a cryptocurrency offering that will allow members to buy, sell, and hold bitcoin.
In 2021, Stanford FCU reported it saw nearly 25,000 buy and sell transactions by its members to and from crypto exchanges. The offering is the result of a partnership with NYDIG and Q2 Software.
NYDIG is offering Stanford FCU members $5 in free bitcoin to those who sign up in the first few months if members are interested in trying out the new fintech offering.
According to the credit union, which in addition to Stanford University serves a number of high-tech companies in the Silicon Valley market, its new crypto service is offering:
* Easy signup and immediate access for current members
* Clear account information
* bitcoin account management in Online Banking and the mobile app
* Automatic documentation for tax time
* An “ironclad platform thanks to NYDIG, which adheres to the highest security, regulatory, and operational standards.”
A ‘Need & An Opportunity’
“Stanford FCU recognizes the power of cryptocurrency in today’s e-commerce ecosystem. We want to make the process of using bitcoin as streamlined, secure and user-friendly as possible for our members,” said Stanford FCU President and CEO Joan Opp in a statement. “We see both a need and opportunity here to support our members’ evolving needs while leveraging technology in a way that enables them to use cryptocurrency seamlessly in their everyday lives.”
As CUToday.info has reported, other credit unions with crypto offerings for members include Visions FCU and UNIFY Financial CU. Their stories can be found via the links.