Etana Custody Launches Digital Asset Trading Services For Credit Unions
Etana Onboards WeStreet Credit Union in Partnership with CryptoFi to Provide Secure and Regulated Trading Environments to Members
Etana Custody (Etana), an industry leader in digital asset custody and trade support solutions announced the successful onboarding of WeStreet Credit Union in collaboration with CryptoFi, a Cryptocurrency-as-a-Service (CaaS) company. The aim is to revolutionize the access and management of digital assets for credit union members by leveraging CryptoFi's interface and Etana's comprehensive custody platform, providing convenience, security, and confidence in asset management.
“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,” said Eric Hilaire, Chief Digital Officer of WeStreet Credit Union.
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. Moreover, the solution is cost-effective to implement, eliminating the need for extensive in-house resources, and mitigates counterparty risk on behalf of the financial institution.
"Concerns surrounding the storage of digital assets are growing among financial institutions, prompting a greater demand for a regulated custodian," explained Brandon Russell, CEO of Etana. "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."
Etana’s industry-leading 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.
“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,” explains Kian Sarreshteh, Co-Founder and CEO of CryptoFi.