Cornerstone Resources partners with BankSocial® to offer crypto exchange solutions to credit unions
PLANO, TEXAS (February 27, 2024) — Cornerstone Resources announces a strategic partnership with BankSocial® to connect credit unions with the only cryptocurrency exchange designed specifically for credit unions and their members.
Launching a unique combination of scalable features, BankSocial provides a cutting-edge solution to challenges faced by credit unions today. A division of Fivancial, Inc., BankSocial CUSO offers an easy-to-implement, self-custody crypto exchange, including major tokens such as Bitcoin, Ethereum, MATIC, and HBAR.
Fivancial, Inc. d/b/a BankSocial, is a global FinTech company offering the evolution of financial services and technological infrastructure, on distributed ledger to businesses and individuals. Additional components of the BankSocial platform are available to credit unions that are enrolled in the BankSocial charter agreement.
“The BankSocial platform helps credit unions diversify into the coming transformation of how traditional, and new non-traditional, banking services are delivered and executed, ensuring they remain relevant to future generations of consumers while growing deposits and revenue,” said Cornerstone Resources EVP and Chief Revenue Officer Ryan Dold. “We are excited to help bring these capabilities to the market.”
Becky Reed, a credit union executive with extensive background leading organizations as a CEO, is BankSocial’s chief operating officer and serves on the boards for various industry/technology organizations.
“As members’ needs and the economic landscape evolve, so must credit unions,” Reed said. “In offering innovative solutions such as non-custodial digital asset services, BankSocial is paving the way for the next generation of credit union members.”
As part of this strategic partnership, Cornerstone members are eligible to reserve preferential terms for the BankSocial platform, which uniquely supports the credit union ecosystem. https://growyourdeposits.org/
“The market is ready for an economical, integrated platform that delivers these new services — economic payments, transfers, and a seamless mobile/digital banking experience with capabilities to include multiple banking relationships and digital assets,” said John Wingate, chief executive of BankSocial. “The BankSocial Open Banking platform is designed to position credit unions to successfully navigate the rapidly evolving financial landscape, setting credit unions up for the next 10- to 15-year wave of technology, to grow the deposits, membership, and revenues of our participating credit unions.”
About Cornerstone Resources
Cornerstone Resources provides industry-leading solutions such as audit and consulting; executive search and professional recruiting; and information security, compliance, and consulting services to credit unions across the country. A key service Cornerstone Resources offers to members is its partnership solutions program, through which Cornerstone vets and promotes credit union solution providers, helping to streamline operations and provide effective solutions to its members.
Cornerstone Resources is a wholly owned subsidiary of the Cornerstone League, a regional trade association representing the interests of more than 600 credit unions in Arkansas, Kansas, Missouri, Oklahoma, and Texas. For more information, please visit www.cornerstoneleague.coop/solutions.
About BankSocial
BankSocial® is a passionate team of credit union and DLT experts, building an Open Banking platform that merges the world of credit unions and traditional finance with the world of Web3 and DeFi. The BankSocial® financial platform unites and empowers people and businesses, providing fair and equitable access to the same financial tools for all. To learn more about BankSocial®, visit www.banksocial.io.
