Stablecore launches credit union stablecoin sandbox with Circuit and Curql, targeting 160+ institutions

Three U.S. credit unions with a combined $25 billion in assets have joined a new digital asset sandbox launched by Stablecore, Circuit, and Curql, giving member institutions a structured environment to test stablecoins and tokenised deposits before committing to full deployment.

Announced on Wednesday, the program brings together Stablecore, Circuit—formerly known as Members Development Company—and Curql, a fintech investment collective backed by more than 160 credit unions. The launch gives participating institutions access to a testing environment where they can evaluate stablecoins, tokenized deposits, Bitcoin services, staking, and crypto payment capabilities without immediately committing to a full-scale rollout.

The initial group of participating credit unions includes RBFCU, Stanford Federal Credit Union, and La Capitol Federal Credit Union. Together, the institutions represent approximately $25 billion in combined assets, highlighting growing interest among traditional financial organizations in digital asset technology.

The move arrives at a pivotal moment for the financial sector as lawmakers and regulators continue to shape the future of stablecoin oversight in the United States.

Stablecore gives credit unions a low-risk path into digital assets

The new Credit union stablecoin program is designed to help financial institutions experiment with emerging blockchain services while maintaining the familiar banking experiences their members already use.

Rather than requiring credit unions to launch new standalone crypto platforms, Stablecore’s infrastructure allows digital asset services to operate within existing digital banking environments. Participating institutions can test stablecoin payments, tokenized deposits, cryptocurrency on-ramps and off-ramps, Bitcoin access, staking services, and other blockchain-based financial products.

According to Stablecore, the goal is to help credit unions understand both the opportunities and operational considerations associated with digital assets before making long-term deployment decisions.

“Members trust their credit unions because of their ability to provide secure, trusted access to the financial products and services they care about within a single experience,” said Alex Treece, CEO and co-founder of Stablecore.

Treece said the company aims to help credit unions remain competitive as consumer demand for digital financial products grows.

“We’re helping credit unions stay relevant against competitive threats, retain their deposits and continue to be the trusted, primary financial partner for their members,” he added.

The Credit union stablecoin initiative also includes educational resources for both staff and members, an important step as many institutions continue to assess how blockchain technologies fit into their long-term strategies.

Industry leaders see collaboration as key to adoption

One of the distinguishing features of the program is its collaborative approach. Rather than evaluating digital assets in isolation, participating institutions will be able to learn from one another while exploring the technology’s practical applications.

Ethan Cunningham, Chief Strategy Officer at Circuit, emphasized the importance of collective learning as the financial industry navigates a rapidly changing landscape.

“The program gives participating institutions a collaborative space to evaluate stablecoins and digital assets together while learning how the technology could shape financial services without moving away from their member-first approach,” Cunningham said.

Industry observers have increasingly pointed to stablecoins as one of the most promising blockchain use cases for traditional financial institutions. Unlike volatile cryptocurrencies, stablecoins are typically pegged to reserve assets such as the U.S. dollar, making them more suitable for payments, settlements, and treasury management.

As a result, the Credit union stablecoin model is attracting attention from organizations seeking to modernize payments while maintaining regulatory compliance and customer trust.

Stablecore also announced that former FDIC regulator Ben Hailey has joined the company as Head of Risk and Compliance. His role will focus on developing governance, risk management, and compliance frameworks for partner institutions participating in the program.

The appointment underscores the growing importance of regulatory readiness as financial institutions move deeper into the digital asset sector.

Expansion builds on growing banking partnerships

The launch represents the latest step in Stablecore’s broader strategy to bring digital asset services into mainstream banking infrastructure.

In February, the company joined the Jack Henry Fintech Integration Network, significantly expanding its ability to reach banks and credit unions. The network provides access to approximately 1,670 financial institutions that use Jack Henry’s core banking technology.

That partnership strengthened Stablecore’s position as a provider of blockchain-enabled banking solutions and laid the groundwork for broader adoption of its Credit union stablecoin offerings.

Momentum continued in May when the Tennessee Bankers Association selected Stablecore as a preferred digital asset technology provider for its network of more than 175 member institutions.

Through that agreement, participating banks gained access to stablecoin accounts, tokenized deposits, crypto-backed lending, payment acceptance tools, and digital asset account services integrated directly into existing banking systems.

At the time, Tennessee Bankers Association President and CEO Colin Barrett said customers would benefit from gaining access to digital asset capabilities through the “secure and trusted environment of their local bank.”

The expanding list of partnerships suggests financial institutions are becoming increasingly comfortable exploring blockchain-based products through established service providers rather than building infrastructure independently.

Regulatory developments could shape future growth

The timing of the initiative is notable as U.S. regulators continue working toward a clearer framework for stablecoin issuance and oversight.

In February, the National Credit Union Administration (NCUA) proposed a licensing structure that would require payment stablecoin issuers operating through subsidiaries of federally insured credit unions to obtain NCUA approval before issuing stablecoins.

The proposal primarily addressed licensing and supervisory standards. Additional requirements covering reserves, liquidity, capital levels, and risk management are expected through future rulemaking.

These developments could have significant implications for the future of the Credit union stablecoin market, particularly as more institutions evaluate how stablecoins fit within traditional financial services.

With regulatory clarity improving and institutional interest growing, the Credit union stablecoin initiative launched by Stablecore, Circuit, and Curql could serve as an important testing ground for the next phase of blockchain adoption in U.S. banking.

As credit unions seek new ways to serve digitally native consumers while preserving trust and compliance, stablecoins are increasingly moving from experimental technology to a practical financial tool. The success of this Credit union stablecoin program may provide an early indication of how quickly that transition will unfold across the broader banking industry.