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Credit Unions at the Forefront of Financial Innovation with Blockchain

In a remarkable movement towards the modern banking sector, credit unions are stepping into the world of blockchain technology—a move set to redefine the financial services landscape. This evolution promises to deliver faster transactions, heightened fraud protection, and enhanced digital tools, all while ensuring that the essence of community-focused banking remains intact.

As financial dynamics shift, credit unions are not merely following trends; they are pioneering the use of cutting-edge technologies. By adopting blockchain, these institutions are laying the groundwork for a future where banking is quicker, more secure, and easily accessible to the communities they have always served.

A significant catalyst for this transformation is the partnership recently formed between Metallicus, known for its development of Metal Blockchain, and GoWest Solutions. This collaboration introduces an Innovation Program that equips credit unions across the western United States with the necessary tools to explore and implement real-world blockchain solutions. This initiative underscores a commitment to innovation tailored specifically for the needs of everyday banking activities.

The Metal Blockchain Innovation Program stands out by offering a secure, compliance-centric platform that allows credit unions to experiment with various blockchain applications. Key features of this program include:

• - Metal Pay for Credit Unions: A tailored Crypto-as-a-Service wallet solution that leverages tokenization and stablecoins to facilitate compliant digital transactions and secure asset custody.
• - Metal Identity: An advanced digital identity solution aimed at providing secure member authentication through verifiable credentials and Single Sign-On (SSO) capabilities.
• - Next-Gen Fraud Prevention and Risk Mitigation: Innovative tools that implement private blockchain subnets and advanced access controls to help institutions proactively identify, report, and mitigate fraud risks.

Troy Stang, President and CEO of GoWest Credit Union Association, stated, “Credit unions have always led with trust, purpose, and technology, and now they can leverage that even further to strengthen their leadership.” He emphasized that with the backing of Metallicus, credit unions will redefine financial services by exploring breakthrough innovations in secure, compliant, and member-centric ways.

Cameron Smith, Chief Growth Officer of GoWest, reinforced this notion by highlighting the importance of collaboration and bold innovation in shaping the future of financial services. He noted that this partnership with Metallicus paves the way for credit unions to adopt cutting-edge blockchain solutions, ultimately enabling them to provide smarter and more agile services to their members in an ever-evolving financial environment.

Moreover, participating credit unions will play a crucial role in shaping these blockchain technologies from their inception, ensuring they are not only effective and secure but also user-friendly and tailored for the average consumer.

For over a century, credit unions have championed trust, community support, and dedicated service. Now, as they embrace blockchain technology, they are poised to enhance that promise—delivering faster, safer, and more effective financial services than ever before.

Frank Mazza, Director of Blockchain for Institutions and Fintechs at Metallicus, expressed enthusiasm about the partnership’s potential. “GoWest represents a powerful network of credit unions ready to lead the next wave of financial innovation. We are excited to work with them to make blockchain accessible and relevant for credit unions across the nation.”

The Innovation Program is offered at no cost to all GoWest member credit unions. Those interested in more information or joining the program can visit Metal Blockchain for GoWest.

About GoWest Solutions

GoWest Solutions aims to connect credit unions in several western states, including Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming, with cutting-edge business partners. Their mission is to create value in the credit union ecosystem by providing access to top-tier fintech, fostering efficiency, reducing costs, and enhancing service for members.

About Metallicus

Metallicus is a leader in blockchain technology dedicated to financial institutions. They developed The Digital Banking Network (TDBN) open-source blockchain banking protocol, which combines digital identity and stablecoin integration, enabling secure global transactions. Their solutions aim to empower credit unions with real-time settlement, automated compliance, and enhanced member services. Learn more about their offerings at metallicus.com.