WeStreet Credit Union launches crypto offering powered by Etana Custody and CryptoFi
“Our members have shown a strong demand for digital assets, and as a credit union, we place their financial well-being as our top priority. Through the collaboration between CryptoFi’s innovative software solutions and Etana’s regulated crypto custody services, we are able to provide a secure trading environment for our members and convenient access to digital assets.”
WeStreet Credit Union, established in 1943 on the philosophy of people helping people, is launching a digital asset offering powered by Etana Custody, a provider of digital asset custody and trade support solutions, and CryptoFi, a Cryptocurrency-as-a-Service (CaaS) company.
With more than 56,000 members, $920+ million in assets, over 200 employees, and serving 11 Northeast Oklahoma counties with 14 locations, WeStreet aims to revolutionize the access and management of digital assets for credit union members.
By leveraging CryptoFi’s interface and Etana’s comprehensive custody platform, WeStreet Credit Union is addressing the growing demand for the emerging asset class.
Etana onboarding numerous credit unions onto its custodial platform
Through its partnership with CryptoFi, Etana aims to onboard numerous credit unions onto its custodial platform, which safeguards assets from fraud and theft.
This offering enables credit unions and other financial institutions to efficiently generate revenue from digital asset services while retaining customers who may otherwise seek alternatives. The solution is said to be cost-effective to implement, eliminating the need for extensive in-house resources, and also mitigates counterparty risk on behalf of the financial institution.
Etana’s custody and trade support solutions allow clients in more than 100 countries to manage global currencies and digital assets from a secure environment with the ability to buy and sell directly from custody, eliminating risky transfers and inefficient transactions.
Its comprehensive solution utilizes integrated technology to guarantee asset availability while allowing members of credit unions to mitigate risk. Balances are readily accessible for trading through the credit union’s online member portal or mobile app, eliminating the need for lengthy or costly transfers.
Etana offers an integrated platform that allows the custody of traditional G10 currencies and digital assets through its cold, hot, or MPC wallet solutions.
CryptoFi offers a seamless crypto trading and education interface for credit union members and bank customers and a robust set of management, data analytics, marketing, and support tools.
“Concerns surrounding the storage of digital assets are growing among financial institutions”
Brandon Russell, CEO of Etana, commented: “Concerns surrounding the storage of digital assets are growing among financial institutions, prompting a greater demand for a regulated custodian. By leveraging our robust custodial platform and comprehensive digital asset trading, clearing, and settlement services, we are capable of delivering bank-grade security that credit unions can rely on to provide the highest trust and confidence to their members.”
Kian Sarreshteh, Co-Founder and CEO of CryptoFi, said: “By collaborating with a world-class custodian like Etana, we mitigate the risks associated with cryptocurrencies for credit unions and their members. Through the combination of our Crypto-as-a-Service (CaaS) solutions and Etana’s multi-asset custody and support, we establish a secure trading environment that enables members to manage their digital assets with confidence.”
Eric Hilaire, Chief Digital Officer of WeStreet Credit Union, commented: “Our members have shown a strong demand for digital assets, and as a credit union, we place their financial well-being as our top priority. Through the collaboration between CryptoFi’s innovative software solutions and Etana’s regulated crypto custody services, we are able to provide a secure trading environment for our members and convenient access to digital assets.”