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    Metallicus Expands its Network with Bonifii Acquisition, Aims to Enhance Credit Union Services on The Digital Banking Network

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    Metallicus, a digital banking and blockchain platform, has acquired financial tech service provider Bonifii, adding 70 credit unions to its network. The acquisition will spearhead the development of a credit union focussed service on The Digital Banking Network (TDBN), a widely used blockchain network in the fintech sector. As Metallicus plans to onboard more financial institutions, it also boasts its partnerships with the government-backed FedNow digital payments system and Metallicus’ Metal blockchain. Bonifii’s CEO John Ainsworth will assist in Metallicus’s expansion in the credit union sector. The company’s market capitalization stands at $13.65 million.

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    So, Metallicus, a digital banking and blockchain platform, has just bought Bonifii, a company that provides financial tech services. Bonifii actually has connections with 70 credit unions through its services, which is pretty impressive.

    This acquisition implies that a specific service for credit union partners will be developed. And this is not any service; it’s going to be built on The Digital Banking Network (TDBN). If you haven’t heard of it, TDBN is a blockchain network used by many in the fintech and financial sector.

    Interesting fact, Bonifii is the sole service operator directly tied to a blockchain core developer. It’s kind of a big deal!

    Marshall Hayner, the boss at Metallicus, said that this move brought their tally of credit union partners to a whopping 80. Some of these are even using Metal blockchain tech.

    Hayner’s ambitions don’t stop there. He’s planning to get more financial institutions and credit unions onboard with The Digital Banking Network. He says it’ll be a game changer, helping enhace their operations, cut costs and improve services for members all over the world.

    Another bragging point for Metallicus is their involvement with the USA’s FedNow digital payments system, making it one of the go-to blockchain companies in the digital banking world. FedNow’s a platform that lets banking institutions offer instant payment solutions, backed by the government. Metallicus was one of the first to be integrated with this program.

    After buying Bonifii, Metallicus might be able to grow its presence even more in the credit union territory. According to Hayner, Bonifii’s big guy, John Ainsworth, will join Metallicus and help Metal Blockchain grow in the credit union sector.

    In terms of the financials, prior to being gobbled up by Metallicus, Bonifii raised around $20 million through some early investment and seed funding rounds. Metallicus doesn’t seem to publicly share its financial status, but CoinMarketCap says Metal Blockchain has a total worth (or market capitalization) of $13.65 million.

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