SAN FRANCISCO, CALIFORNIA – 27/02/2025 – (SeaPRwire) – In an important stride towards advancing financial technology, Metallicus, a recognized leader in blockchain innovation for financial institutions, has officially announced the integration of Bay Federal Credit Union into its cutting-edge Metal Blockchain Banking Innovation Program. This partnership aims to explore and integrate blockchain technology alongside traditional financial practices, providing a new avenue for enhancing security, efficiency, and member services within credit unions.
With a shared vision to revolutionize the banking experience, Bay Federal Credit Union will leverage this collaboration to dive deeper into the transformative capabilities of blockchain. The union’s participation will allow it to explore a diverse range of blockchain applications, ensuring its members remain at the forefront of evolving financial technology. The partnership underscores Bay Federal’s commitment to securing its position as a forward-thinking institution, integrating advanced tools and platforms that prioritize both innovation and safety for its members.
According to Frank Mazza, Director of Blockchain for Institutions & Fintechs at Metallicus, this initiative is a critical step in advancing blockchain solutions across the financial sector. “Bay Federal Credit Union’s participation in our Blockchain Banking Innovation Program marks a pivotal moment in the broader adoption of blockchain technology within the financial services industry,” Mazza said. “By integrating blockchain into their operations, Bay Federal Credit Union will be able to deliver enhanced financial products, reduce transaction costs, improve operational efficiency, and ultimately provide more value to their members. As they progress through the program, they will also be connected to The Digital Banking Network (TDBN), which will offer them interoperability with other institutions, creating a robust ecosystem for financial services innovation.”
The Metal Blockchain Banking Innovation Program is designed to assist credit unions, banks, and fintech companies in navigating the world of blockchain while adhering to necessary regulatory standards, such as BSA (Bank Secrecy Act) compliance. The program provides a structured environment for institutions to research and implement customized blockchain solutions, exploring innovative use cases such as Stablecoins, Cryptocurrency, Digital Identity, Single Sign-On (SSO), Private Subnets, and Tokenization of Assets. These solutions have the potential to address key pain points for financial institutions, such as reducing operational risks, improving security, lowering transaction costs, and ultimately enhancing the service experience for members.
Bay Federal Credit Union’s President and CEO, Carrie Birkhofer, highlighted the strategic importance of this collaboration. “At Bay Federal, we pride ourselves on our commitment to providing innovative financial solutions that benefit our members,” said Birkhofer. “Our partnership with Metallicus allows us to explore how blockchain can drive efficiency and security while providing greater accessibility. As the financial industry continues to evolve, this partnership ensures we remain well-positioned to meet the needs of our members with cutting-edge solutions.”
At the heart of this collaboration is The Digital Banking Network (TDBN), an open-source blockchain protocol developed by Metallicus. This system empowers credit unions and banks to deploy private subnets that ensure the privacy and security of their transactions while maintaining seamless interoperability with other institutions on the network. TDBN’s capabilities extend to enabling instant global payments, enhancing digital identity management, and providing access to decentralized financial products, all of which contribute to a more efficient and secure financial ecosystem.
By joining the program, Bay Federal Credit Union gains access to a suite of blockchain-based tools and services, including real-time settlement, automated compliance, and digital wallet offerings. These tools will allow the credit union to further streamline its operations, reduce costs, and improve the overall financial experience for its members. As Bay Federal moves through the program, its leadership in blockchain adoption will undoubtedly position it as a pioneer in the digital banking landscape.
The Metal Blockchain Banking Innovation Program is open to additional financial institutions seeking to explore blockchain technologies and its application in banking. For more information or to express interest in the program, interested institutions can contact bizdev@metallicus.com.
About Metallicus: Metallicus stands at the forefront of blockchain innovation for financial institutions, providing cutting-edge solutions through its open-source Digital Banking Network (TDBN). This protocol integrates digital identity and stablecoin technology to enable secure, compliant global transactions. Additionally, Metallicus offers a comprehensive suite of blockchain-based tools, including digital wallets, crypto offerings, and blockchain infrastructure for real-time settlement, automated compliance, and enhanced member services. Its CUSO (Credit Union Service Organization) division is dedicated to providing credit unions with the tools needed for effective blockchain adoption.
About Bay Federal Credit Union: Bay Federal Credit Union, established in 1957, is a full-service, not-for-profit financial institution that serves over 88,000 members and 2,700 local businesses and nonprofits across Santa Cruz, San Benito, and Monterey counties. With assets exceeding $1.6 billion, Bay Federal is the largest member-owned financial institution in the region. As a certified Community Development Financial Institution (CDFI), Bay Federal remains committed to fostering community development while meeting the financial needs of its members. The organization is also known for its award-winning employee volunteer program, reinforcing its dedication to both financial and community growth.
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