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【St. Cloud Credit Union CEO: First to include Bitcoin in its core ledger, holding over 20 coins BTC】

St. Cloud Financial Credit Union in St. Cloud, Minnesota, USA,CEO Jed Meyer said that the institution became the first credit union to include Bitcoin in its core ledger. Founded by postal workers in 1930 and currently holding actual Bitcoin in custody for members, the credit union uses a patent-pending hybrid custody model that gives each member independent ownership of Bitcoin in a multisignature vault. According to Jed Meyer, without actively promoting the service, the credit union’s Bitcoin holdings in custody have exceeded 20 coins. Its services support members in buying and selling Bitcoin directly, bringing ordinary users into the Bitcoin ecosystem, and it plans to integrate with the Lightning Network. He also discussed the relationship between stablecoins,USD and Bitcoin as a new type of monetary network, as well as the differences between Bitcoin ETF and credit union custody. On the regulatory front, Jed Meyer mentioned Minnesota custody law, review by the National Credit Union Administration (NCUA) and the CLARITY Act. In addition, the credit union launched the Cloud Dollar stablecoin and uses a cooperative ownership model. He said that credit unions need to control their own payment rails and continue educating skeptics about the subject.