TULSA, Okla.–WeStreet Credit Union has launched a crypto portal that will allow users to buy, sell and hold digital currency. The credit union said the portal was launched in August as an exclusive members-only feature and became available to the public this month.
Noting that in the past crypto has often traded via unregulated online exchanges that presented various risks, WeStreet said its crypto portal “aims to change that.”
“At WeStreet, we always keep our community, their needs, and their financial goals top of mind. Right now, many of our members and the broader community are looking for an accessible, all-in-one way to invest in cryptocurrency,” said President and CEO Greg Gallant in a statement. “We want to empower users and make sure they feel confident in their cryptocurrency ventures, and we believe our Crypto Portal is the best solution on the market for our community.”
Partnership With Trust Company
Noting it is a regulated institution, WeStreet CU said it has partnered with a trust company that is a qualified crypto custodian to provide “users with a way to manage cryptocurrency assets through their online banking app.”
“Many digital-only exchanges are unregulated, which has been a major cause of billions of dollars of cryptocurrency being lost in recent years,” WeStreet said. “By using a combination of best-in-class systems, the regulated custodian WeStreet has partnered undergoes financial and technology audits, to ensure users’ digital assets are protected.
Audited Ledger Being Used
WeStreet further stated it utilizes an audited ledger to keep track of customers’ crypto assets and monitor their account activities, which allows the credit union to better serve users by quickly addressing and resolving any issues or discrepancies.
Users will always have access to their funds to purchase, sell, and hold at any time, “empowering them to make informed financial decisions that best serve their needs,” the credit union said.
“We also independently monitor crypto balances with our qualified custodian several times a day and immediately work to resolve any discrepancies if any do appear," said Gallant.
Variety of Coins
According to WeStreet, a variety of the most popular and highly circulated coins are available for purchase on the platform, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Stellar. Coins Avalanche and Chainlink will be added to the platform in late October.
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