Metallicus Bolsters Blockchain Presence with Bonifii Acquisition

Expanding into Credit Union Services

Digital banking and blockchain powerhouse Metallicus has solidified its position in the fintech sector by acquiring Bonifii, a credit union service organization (CUSO) connected to 70 credit unions. This strategic move aims to integrate Metal Blockchain solutions into Bonifii’s portfolio, enhancing service capabilities for credit union members worldwide.

The acquisition marks the establishment of a new CUSO under the Digital Banking Network (TDBN), which leverages a multilayer blockchain infrastructure. This platform focuses on streamlining financial operations and reducing costs while offering bespoke blockchain solutions to credit unions and other financial institutions.

A Unique Blockchain Partnership

Bonifii stands out as the only CUSO directly connected to a blockchain core developer. This unique partnership aligns with Metallicus’ mission to revolutionize digital banking. Founder and CEO of Metallicus, Marshall Hayner, emphasized the acquisition’s impact, stating, “Our plan is to onboard more financial institutions onto The Digital Banking Network, enabling them to move on-chain and enhance their operational requirements.”

FedNow Integration and Broader Implications

Metallicus’ early involvement with the U.S. Federal Reserve’s FedNow digital payments system underscores its growing influence. As one of the first blockchains integrated with FedNow, Metallicus has paved the way for real-time, government-backed payment solutions.

The Bonifii acquisition strengthens this position, offering a pathway for credit unions to adopt blockchain technology seamlessly. John Ainsworth, Bonifii’s president, will transition to Metallicus as general manager, spearheading this expansion.

Financial Background and Market Prospects

Prior to this deal, Bonifii had raised approximately $20 million through seed rounds, reflecting its robust market standing. Meanwhile, Metal Blockchain, Metallicus’ core product, boasts a market capitalization of $13.65 million, according to CoinMarketCap.

A Vision for the Future

This acquisition aligns Metallicus’ blockchain expertise with Bonifii’s established credit union network, setting the stage for innovative financial services. With ongoing efforts to integrate more credit unions and financial institutions, the partnership is poised to redefine digital banking for years to come.