St. Cloud Credit Union, a 1930s postal credit union, has become the first credit union to put Bitcoin on its core ledger. The institution's CEO, Jed Meyer, recently spoke about the credit union's hybrid vault model and its quiet path to holding over 20 BTC. This move marks a significant milestone in the adoption of Bitcoin by traditional financial institutions.
Source
"St. Cloud Credit Union Launches Bitcoin Custody Services" — Bitcoin Magazine
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The credit union's hybrid vault model combines traditional custody with the decentralized nature of Bitcoin, allowing for a more secure and efficient storage of the cryptocurrency.
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