Stablecore has rolled out an early access program for more than 160 US credit unions, giving institutions with about $25 billion in assets a chance to test stablecoin and digital asset services before committing to full deployment. The trial includes stablecoin payments, tokenized deposits, Bitcoin services, crypto on- and off-ramps, and staking.
The initiative was announced in partnership with Circuit and Curql. Circuit is a credit union service organization focused on research and development, while Curql is a fintech investment collective representing over 160 credit unions and is known for giving those institutions access to technology investments and joint ventures.
Credit unions can test products before full integration
Under the program, participating credit unions can evaluate how these products work inside their operations before integrating them into existing banking platforms. The structure is designed to let institutions judge practical fit and measure whether customer demand supports a broader rollout. The services available for testing cover payments, tokenized deposits, Bitcoin access, crypto ramps, and staking tools.
The move extends Stablecore’s existing strategy of delivering stablecoin and tokenized asset services through current core banking infrastructure. In February, the company joined Jack Henry’s Fintech Integration Network, a step that opened access to about 1,670 bank and credit union clients.
NCUA proposal adds a regulatory track for payment stablecoins
The push by US credit unions to explore stablecoin services is taking shape alongside regulatory work. In February, the National Credit Union Administration, the federal agency that supervises insured credit unions in the United States, proposed a framework to license stablecoin issuers operating through credit union affiliates for payment use.
Under that proposal, any payment-focused stablecoin issuer working through an affiliate of a federally insured credit union would need an NCUA license before issuing stablecoins. The current draft focuses on the licensing process and supervision model. Rules on reserves, capital, liquidity, and risk management are expected in later measures. The public comment period for the proposal remained open until April 13.
The article also defines tokenized deposits as a digital representation of a traditional bank deposit on blockchain rails, while stablecoins are described as digital assets designed to keep a stable value, typically by being pegged to assets such as the US dollar.