Velera Enters Digital Sandbox with Metallicus to Drive Stablecoins for Credit Unions
- Roy Urrico
- Aug 25
- 3 min read
By Roy Urrico
Velera’s Digital Asset Lab, a collaborative initiative aimed at assisting credit unions position themselves as leaders in the stablecoin and digital asset space, recently launched.
St. Petersburg, Fla.-based payments Velera– billed as “the nation’s premier payments CUSO and an integrated financial technology solutions provider” –created its Digital Asset Lab to foster greater industry engagement, education, strategic partnerships and pilot programs centering on stablecoins. Stablecoins are a class of cryptocurrencies intended to lessen volatility by fastening their value to a stable asset, for example a fiat currency (such as the U.S. dollar) or a commodity (such as gold).
“Stablecoins, which combine the speed of digital payments with the stability of traditional currency, are emerging to be a potentially pivotal force in global finance,” said Vladimir Jovanovic, vice president of Innovation, Velera. “As major financial institutions, fintechs and global retailers explore opportunities with stablecoins, it is vital for credit unions to understand their roles and responsibilities when it comes to these digital assets to meet members’ needs and uphold cooperative principles to help shape the future of digital finance.”
Enter the Digital Asset Lab
Velera’s Digital Asset Lab will enable industry engagement and collaboration, by providing education and thought leadership, building infrastructure and forming strategic partnerships for credit union industry stablecoin and digital asset exploration, explained Jovanovic. This, he added, will include Velera-engaged joint ventures to help address areas such as distributed ledger infrastructure and connectivity, blockchain networks, interoperability needs, core banking integrations, by developing tailored solutions.
The first platform partner is Metallicus, a fintech bridging traditional finance with advanced solutions built on blockchain technology. As a strategic investor in Metallicus, Velera is partnering with the organization to explore how its multi-purpose blockchain infrastructure energizes quick learning, testing and building of solutions vital to Velera’s Digital Asset Lab activities.
“Joining Velera’s Digital Asset Lab is a significant step in our mission to deliver safe, scalable and compliant blockchain-powered solutions for credit unions nationwide,” said Marshall Hayner, co-founder and CEO of Metallicus. “Through this collaboration, we can help credit unions gain hands-on experience with programmable money, reduced costs, and greater security and transparency – laying the groundwork for future innovation in digital assets.”
Open to Participants
Velera’s Digital Asset Lab, will first open to participants in Velera’s Innovation Alliance (VIA), a group of credit union leaders and Velera executives focused on exploring and advancing cutting-edge technologies like stablecoins and tokenized deposits for the credit union industry. Introduced in late 2024, the VIA collaborates on proof-of-concept initiatives and provides feedback to advance digital asset exploration and sustainable growth within the cooperative movement.
VIA will introduce pilot programs to test stablecoin initiatives and gather feedback across audiences, with a goal of jump-starting tools and products to advance credit unions’ stablecoin journeys, explained Jovanovic. This will include grasping the U.S. stablecoin market and cross-border opportunities, as well as its potential role in the shared branch through new experiences and faster settlement.
“The Digital Asset Lab is geared toward identifying the right approaches for different aspects of digital finance,” added Jovanovic. “This will initially entail evaluating whether a credit union should issue its own stablecoin, join an existing one or another option, as well as what role Velera can play to bring these solutions to the credit union market at scale. We will also explore how stablecoins and tokenized deposits further enhance our shared branch environment, which is a big part of the cooperative movement. From there, we can work together to advance and repeat the process based on emerging priorities, from smart contracts to digital identities and beyond.”
The Digital Asset Lab will have a broad reach, Jovanovic noted, creating platforms for credit unions to elevate collaboration and open access to innovative technology. These solutions will allow for increased speed, differentiating credit union solutions through advanced digital asset capabilities with a quick-to-market approach and an inclusive platform designed to benefit all financial institutions.
Fintech Engagement Program
As part of Velera’s Fintech Engagement Program, the VIA focuses on testing new concepts, forming fintech partnerships and ensuring credit unions remain competitive in an evolving financial landscape.
The Fintech Engagement Program, supported by VIA, helps credit unions connect with vetted fintech solutions to enhance their offerings and compete with fintechs, banks and other tech companies, according to Velera. Through Velera’s Fintech Engagement Platform, credit unions can access a curated selection of vetted fintech companies and collaborate with experts to develop solutions to stay competitive in the evolving financial landscape.