Beam and Braid are collaborating to provide stablecoin infrastructure to community banks and credit unions in the U.S., addressing a perceived gap in fintech adoption among smaller financial institutions. Initially, seven partner banks from the northeast and midwest will benefit from this program. Braid will deliver APIs to help modernize product offerings such as real-time payments, while Beam will supply the stablecoin-specific infrastructure. These banks will incur licensing and transaction fees as part of this partnership. Beam's CEO, Dan Mottice, aims to serve community banks that feel they missed the fintech wave and are looking to engage younger, more tech-savvy customers. For smaller banks under $500 million in assets, Beam and Braid will offer a sandbox for faster payouts and cross-border transactions. Larger banks can expect direct integration and enterprise-scale stablecoin products. The stablecoin initiative will primarily utilize the Solana blockchain, emphasizing speed and cost efficiency for participating banks, rather than technical blockchain features.

Source 🔗