St Cloud Financial Credit Union Custodies 20 BTC with Hybrid Model

St. Cloud Financial Credit Union, founded by postal workers in 1930, is now holding real Bitcoin for its members. CEO Jed Meyer detailed the credit union's patent-pending hybrid custody model, which allows individual Bitcoin ownership in a multisig vault. The credit union has accumulated over 20 BTC under custody without active efforts. Meyer discussed the implications of stablecoins, dollars, and Bitcoin as new money networks, and compared Bitcoin ETF with the credit union's custody approach. He also highlighted plans for member vaults and Lightning Network integration, as well as the impact of Minnesota custody law and NCUA exams on operations. The credit union aims to educate members about digital assets and the importance of owning their infrastructure.

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