Bank of Utah has joined a select group of financial institutions supporting Stablecore, a financial technology company that helps banks and credit unions offer digital asset products safely and securely.

This partnership reflects Bank of Utah’s commitment to exploring emerging technologies in finance. By working with Stablecore, the bank aims to provide clients with innovative digital tools while continuing to deliver the trust, stability and personal service that have long been its hallmark.

Read the full press release below.

Stablecore Raises $20M to Bring Stablecoins, Tokenized Deposits and Digital Assets into Banks and Credit Unions

Fintech powering community, regional banks and credit unions with digital asset solutions secures funding from Norwest, Coinbase Ventures, Curql, BankTech Ventures and others

DALLAS, TEXAS, Sept. 16, 2025 – Stablecore, the platform enabling community and regional banks and credit unions to offer stablecoins, tokenized deposits and digital asset products, today announced $20 million in funding. Led by Norwest and with participation from Coinbase Ventures, Curql, BankTech Ventures, Bank of Utah, EJF Ventures, Bankers Helping Bankers Fund and the backing of more than 200 limited partner financial institutions and others, this news comes at a crucial time following the passage of the GENIUS Act in July 2025.

Stablecore serves as a "digital asset core," unifying the critical components of digital asset offerings into a single platform specifically built for community and regional banks and credit unions. The platform integrates with existing banking cores and digital banking services, enabling financial institutions to offer digital asset products without changing their technology infrastructure. Stablecore gives community and regional banks and credit unions complete control, ownership and flexibility over their digital asset offerings, including the ability to work with multiple underlying digital asset custodians.

"Following landmark regulatory changes this year, stablecoins and digital assets have entered a new paradigm, becoming permissible activities within banking," said Alex Treece, co-founder and CEO of Stablecore. "Banks and credit unions — especially Main Street institutions — are the most logical, secure home for these assets alongside customers’ existing financial accounts. Stablecore helps financial institutions retain their deposits, create new digital asset-powered revenue streams and stay competitive as this transition to digital assets and blockchain technology unfolds."

Co-founded by Alex Treece, Nick Elledge and Eduardo Montemayor, experienced leaders with deep expertise in digital assets and banking, the new funding allows Stablecore to grow its customer base within the 8,000+ regional and community banks and credit unions in the U.S. and hire additional talent to support them.

"We see blockchain and digital assets as one of the most transformative opportunities in modern finance. While much of the innovation so far has been outside of traditional finance, the real power of these technologies will be felt in communities when local banks bring them into everyday financial services. Stablecore makes this vision possible, giving our customers faster, safer and more innovative ways to move money and build wealth, while preserving trust and personal connections." — Branden Hansen, Bank of Utah President

Integrating Stablecore into a financial institution’s tech stack allows for multiple use cases, benefitting both the financial institution and its customers, without needing to upgrade or change their existing technology infrastructure. From instant global payments and treasury management with stablecoins, to digital asset custody and exchange, to digital asset-backed lending and more, Stablecore opens up new revenue streams, increases deposit bases and allows financial institutions to attract new customers and retain account primacy.

"We’re at the beginning of a generational shift, as stablecoins and digital assets move into the heart of the financial system," said Jordan Leites, Vice President at Norwest. "Stablecore is leading the charge, bringing together deep digital asset expertise and large-scale enterprise execution to deliver trusted solutions for banks and credit unions. Norwest is thrilled to support the Stablecore team as they build the infrastructure layer for the next era of banking and help financial institutions unlock the full potential of digital asset offerings."

"Banks are anxious about what stablecoins and this new legislation means," said Carey Ransom, managing director at BankTech Ventures. "We have more than 100 partner banks who look to us to help them identify the best solutions at times of change like this. It was clear from the moment I met the Stablecore team that they are committed to helping financial institutions navigate these changes and the best team to positively participate in the future of digital assets. We're excited to partner with them and have been very pleased with how well they've already worked with and supported many of our banks."

To learn more about Stablecore and to follow along for more company updates, visit stablecore.com.

About Stablecore

Stablecore is the platform enabling community and regional banks and credit unions to offer stablecoins, tokenized deposits and digital asset products. Its "digital asset core" allows financial institutions to own and manage digital asset products by unifying the critical components into a single offering that easily integrates with banking cores, digital banking and the existing banking technology stack. Stablecore is backed by leaders in banking, digital assets and technology, including Norwest, Coinbase Ventures, Curql, BankTech Ventures, Bank of Utah, EJF Ventures, Bankers Helping Bankers Fund, Cross River Digital Ventures, Peterson Ventures, Reflexive Ventures, Naval Ravikant, Ensemble VC, Stack VC, Capital Factory and others. To learn more about Stablecore, visit stablecore.com.