Stablecore has successfully raised $20 million to develop a platform enabling community and regional banks and credit unions to offer stablecoins, tokenized deposits, and digital asset products.
The funding round was led by Norwest, with contributions from Coinbase Ventures, Curql, BankTech Ventures, Bank of Utah, EJF Ventures, and the Bankers Helping Bankers Fund, among others.
Stablecore acts as a “digital asset core,” consolidating essential components of digital asset offerings into a single platform tailored for over 8,000 community and regional banks and credit unions across America. The platform seamlessly integrates with existing banking systems and digital banking services, allowing financial institutions to introduce digital asset products without necessitating changes to their technology infrastructure.
“Following landmark regulatory changes this year, stablecoins and digital assets have entered a new paradigm, becoming permissible activities within banking,” states Alex Treece, CEO of Stablecore.
“Banks and credit unions—especially Main Street institutions—are the most logical and secure homes for these assets alongside customers’ existing financial accounts. Stablecore assists financial institutions in retaining deposits, generating new revenue streams powered by digital assets, and maintaining competitiveness as the transition to digital assets and blockchain technology progresses.”