Credit Unions Get Direct Path to Bitcoin and Other Digital Assets

Credit unions have found a way to offer Bitcoin and other digital asset services without relying on external platforms. DaLand CUSO and Circuit, an 80-member credit union collaborative, announced that Circuit's Digital Asset Initiative has moved into implementation. This program grants participating institutions access to DaLand's CODE Engine and Coin2Core technology, which integrates digital asset capabilities directly into core banking systems from Corelation KeyStone, Fiserv DNA, and Jack Henry Symitar.

Under a 'Hybrid Custody' model, credit unions retain custody, member relationships, and data rather than routing customers to third-party crypto platforms. Three credit unions are already live on the platform: St. Cloud Financial Credit Union, which issued its own stablecoin, $CLDUSD; Canvas Credit Union, a $5 billion institution that became a DaLand owner after deployment; and Blaze Credit Union, which also invested as an owner.

The announcement comes as the passage of the GENIUS Act and other federal digital-asset legislation push financial institutions to formalize their crypto strategies. Executives framed the move as a shift from studying digital assets to actually deploying them. 'We weren't looking for another concept to study,' said Canvas CIO David Pierce, adding that the credit union wanted infrastructure it could own rather than rent.

Blaze's Justin Burleson, a former NCUA official, said his institution wanted digital asset activity to stay visible to 'examiners, boards, and members,' rather than sit with an outside vendor. Circuit, which spent the past year building educational programming around digital assets, said Phase 2 marks a shift toward hands-on evaluation.

'Innovation moves faster when credit unions share what they're learning,' said Circuit's Chief Strategy Officer Ethan Cunningham. Credit unions interested in joining can contact either organization directly.