Stablecore raises $20m to bring stablecoins to community banks and credit unions

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The funding was led by Norwest and with participation from Coinbase Ventures, Curql, BankTech Ventures, Bank of Utah, EJF Ventures, Bankers Helping Bankers Fund and others.

Stablecore serves as a “digital asset core,” unifying the critical components of digital asset offerings into a single platform specifically built for America’s 8000+ community and regional banks and credit unions.

The platform integrates with existing banking cores and digital banking services, enabling financial institutions to offer digital asset products without changing their technology infrastructure.

“Following landmark regulatory changes this year, stablecoins and digital assets have entered a new paradigm, becoming permissible activities within banking,” says Alex Treece, CEO, Stablecore.

“Banks and credit unions – especially Main Street institutions – are the most logical, secure home for these assets alongside customers’ existing financial accounts. Stablecore helps financial institutions retain their deposits, create new digital asset-powered revenue streams and stay competitive as this transition to digital assets and blockchain technology unfolds.”