WeStreet Credit Union, headquartered in Tulsa, Oklahoma, has announced a Crypto Portal to help its members and the public purchase, sell, and hold cryptocurrencies in a step towards accepting digital money. The portal was first released in August 2023 as a members-only service, and in October it opened up to the general public.
The trading of cryptocurrencies, which are decentralised digital assets like Bitcoin and Ethereum, has mostly taken place on unregulated web platforms, putting investors at serious danger. The loss of billions of dollars’ worth of digital assets on these platforms in recent years serves as an example of this risk.
Through its Crypto Portal, WeStreet Credit Union hopes to reduce these dangers, nevertheless. Federally regulated, the credit union provides a safe space for bitcoin transactions, guaranteeing a degree of dependability and confidence that is frequently absent from digital-only exchanges.
WeStreet’s online banking app will now be able to handle digital assets thanks to a partnership with a Qualified Crypto Custodian, a trust business. This partnership will make dealing cryptocurrency safer. Under constant financial and technical scrutiny, the custodian guarantees strong protection of digital assets. As per the statement made by Greg Gallant, President and CEO of WeStreet Credit Union, the company proactively checks the cryptocurrency balances with this custodian several times a day and swiftly resolves any disparities.
Additionally, the portal offers an audited ledger system to closely monitor users’ cryptocurrency holdings and account activity. Through this programme, the credit union may quickly address and settle any problems or inconsistencies, guaranteeing that members will always have access to their money for purchasing, selling, or retaining at their convenience. Apart from enabling safe transactions, the platform offers a variety of popular coins including as Ethereum, Litecoin, Bitcoin Cash, and Stellar. By the end of October, Coins Avalanche and Chainlink will also be available.
Since its founding in 1943, WeStreet Credit Union has changed constantly to accommodate the financial demands of its membership, which has increased to over 56,000 and has assets of over $970 million. WeStreet’s continued dedication to adjusting to the world of digital currencies while maintaining the community-centric philosophy upon which it was established is reflected in our Crypto Portal.