Second Credit Union Enters into Partnership With Blockchain Initiative

A second credit union has announced a partnership with San Francisco-based Metallicus, the core developer of Metal Blockchain, the foundational Layer O blockchain.

The organization said One AZ Credit Union said it has enrolled in its Banking Innovation Program, which it said “signifies OneAZ Credit Union’s proactive approach to investigating blockchain technology’s potential and harnessing Metallicus’ expertise to elevate its technological prowess.”

As reported earlier, Patelco Credit Union in California has also enrolled in the program.

Exploring Blockchain

“By joining the Blockchain Innovation Program we’re committing to exploring how we can leverage blockchain technology to set a new standard of excellence for our members,” President and CEO Brandon Michaels said in a statement. “At OneAZ, we believe that being at the cutting edge of innovation is critical to delivering on our promise to inspire dreams and drive prosperity and community growth for all Arizonans. We’re excited at the opportunity to learn more about the potential of this technology with Metal Blockchain.”

Looking for ‘Next Generation’
Added Sundeep Uthra, EVP and CTO with the credit union, in a statement, “We are thrilled to be part of this innovation ecosystem. Partnering with Metal Blockchain will help us accelerate the development of our next generation of banking solutions. We look forward to reimagining the banking technology by collaborating and innovating in blockchain technology as part of the Metal Blockchain’s Banking Innovation Program.”

The organization said the Banking Innovation Program by Metal Blockchain enables institutions to “navigate and adopt customized blockchain solutions, ensuring compliance with regulatory standards while addressing their distinct operational demands.”

Metallicus said it offers a distinguished advisory board, while the program offers innovation workshops, fintech partnerships, R&D grants, and bespoke development, “positioning participants to lead and innovate within the dynamic financial sector.”

What Program is Designed to Do
Metallicus said the Metal Blockchain Banking Innovation Program is designed to support financial institutions’ journey into blockchain technology at no cost.

“With a focus on tackling use cases around Digital Identity, Single Sign-On (SSO), Private Subnets, Tokenization of Assets, and more, the program equips participants with the tools and resources needed to drive profitability, lower costs, reduce risks, and deliver unparalleled customer experiences,” the organization said.

Courtesy of CUToday