Facing sustained deposit flight to neobanks and consumer crypto exchanges, a consortium of US credit unions managing $25 billion in assets initiated a digital asset infrastructure pilot on Wednesday. The early-access program, coordinated by stablecoin infrastructure provider Stablecore alongside credit union service organization Circuit and fintech collective Curql, allows the lenders to evaluate blockchain settlements directly within their core banking systems.
The initiative enables participating institutions to test stablecoin payments, tokenized deposits, and native Bitcoin trading before authorizing a broader rollout. Major early participants in the testing phase include Randolph-Brooks Federal Credit Union and Stanford FCU, according to a detailed press release.
The move accelerates Stablecore’s strategy to embed digital assets into traditional financial rails. The company previously joined the Jack Henry Fintech Integration Network, opening access to approximately 1,670 bank and credit union clients, and secured a separate integration partnership with the Q2 digital banking platform.
How the GENIUS Act and NCUA Rulings Triggered the Pilot
The coordinated shift into digital assets follows two distinct regulatory catalysts aimed at smaller financial institutions. In February, the National Credit Union Administration proposed a formal licensing and oversight framework specifically designed for payment stablecoin issuers operating through credit union subsidiaries.
That regulatory groundwork was subsequently solidified by the July passage of the GENIUS Act. By establishing clear guardrails for digital asset custody and stablecoin issuance, the legislation provided the necessary legal cover for institutions like Curql to fund the Stablecore pilot and secure their members’ deposits against external crypto competitors.