CU 2.0 Podcast Episode 256 Crypto Currency Is Thriving at WeStreet CU in Tulsa OK

cu 2.0 podcast

There are three mind-blowing facts in this podcast.

Number one: credit unions currently have a greater appetite for offering cryptocurrencies to members than do banks to their customers.  The source of that is Kian Sarreshteh, CEO of CryptoFi, a crypto-as-a-service company formed to help traditional FIs to offer digital assets.  His proof: CryptoFi has pivoted in the last year to focus on offering its products to credit unions.

Number two: NCUA is much more open to crypto than is FDIC, said Kian.  So just when you think NCUA is a Stone Age relic chew on that.

Number three: the first credit union install for CryptoFi isn’t at a credit union in San Jose or Cambridge Mass or Brooklyn.  It’s WeStreet, a $950 million institution headquartered in Tulsa OK.

On the show are Kian from CryptoFi and Eric Hilaire, chief digital officer at WeStreet.

Face reality: credit unions have to take steps to stop the outflow of member dollars into more contemporary asset classes, crypto is definitely on the list.  

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