Payments credit union service organization PSCU announced Wednesday (April 27) that it is debuting a new cryptocurrency microsite, which will be “targeted and specifically curated” for credit unions.
The site will serve as a “continuously updated” hub for information and educational resources for digital assets, according to the press release.
Credit unions can’t hold cryptocurrency’s value within federally insured deposits, per the release, but the National Credit Union Administration (NCUA) has said credit unions have the ability to partner with crypto service providers to give members the ability to buy, sell and hold digital assets in some ways.
The microsite will reportedly help credit unions educate themselves on how crypto works, with the assets and landscape evolving. The site will feature videos, such as a downloadable educational one for sharing with credit union boards and staff, alongside blogs, white papers and other helpful content.
“There is no doubt cryptocurrency is a hot topic in today’s financial landscape, with many credit union members already active and others curious to learn more about it,” said Scott Young, vice president of innovation and design at PSCU. “Due to a lack of regulatory guidance until now, credit unions have held back from any involvement with cryptocurrency, the landscape is rapidly changing — making it the optimal time for credit unions to educate themselves.
“We are hopeful that credit unions can use this new resource to educate their staff and their members, evaluate associated risks and make informed decisions surrounding participation in this rapidly evolving payments technology.”
Earlier this week, PYMNTS wrote that PSCU will be working with Amount, which offers omnichannel and buy now, pay later (BNPL) services.
See also: PSCU Partners With Amount to Provide Credit Card Origination Services to Credit Unions
PSCU reportedly wanted to find a tech provider with “best-of-breed” functionality for digital credit card operating and loans, as the digital landscape has evolved to customers wanting a bigger breadth of immediacy.
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