Payfinia and Metallicus have joined forces to provide a framework for embedded instant payments and cryptocurrency services to credit union members across the US.
Metallicus, a blockchain technology specialist, offers Metal Pay, a consumer-facing crypto trading app, and a supporting API for fiat-to-crypto transactions for financial institutions.
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The alliance sees Payfinia become a preferred API for Metallicus and payment services partner for its Metal Pay offering.
This integration supports the embedding of instant money movement and crypto services into online and mobile banking platforms.
As a result, credit union members can purchase and sell cryptocurrency, transition between fiat and crypto, and securely manage their digital assets within the same environment as their traditional banking accounts.
The collaboration extends with Payfinia slated to join the Metal Blockchain Banking Innovation Programme, spearheaded by Metallicus, to help financial institutions harness the potential of blockchain technology.
Metallicus director of blockchain for institutions and fintechs Frank Mazza said: “This partnership solidifies Metallicus’ commitment to delivering compliant blockchain and cryptocurrency infrastructure and innovative money movement solutions for financial institutions.
“By joining forces with Payfinia as one of our preferred API payment services partners, we ensure credit unions have access to secure, regulatory-compliant crypto solutions that meet the evolving needs of their members while maintaining industry competitiveness.”
Payfinia CUSO general manager Keith Riddle said: “We are thrilled to be at the forefront of unique partnerships, as Payfinia’s secure instant payments framework creates a bridge between standard monetary systems and an emerging digital asset framework managed by Metallicus.
“We look forward to collaborating with the Banking Innovation Program participants to accelerate additional use cases that would be enabled through the integration of Payfinia’s Instant Payment Xchange (IPX) platform capabilities and the Metallicus MetalPay API-based framework.”
In December 2024, Metallicus acquired FinTech Bonifii, a CUSO formerly known as ‘CULedger’.
The two entities are set to establish a new CUSO, enabling credit unions to leverage blockchain-based products through The Digital Banking Network (TDBN), an open-source blockchain banking protocol developed by Metallicus.
