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The Livonia, Mich.-based CUSO CU Solutions Group, which offers products and services in technology, marketing, human resources performance and strategic advisory; and the Denver, Colo.-based CUSO CULedger, a provider of distributed ledger solutions, announced a partnership. As part of the agreement, CULedger will invest in CUSG’s fintech subsidiary, LifeStep Solutions, which houses CUSG’s mobile banking product, LifeSteps Wallet. Additionally, CUSG will leverage its existing base of more than 3,400 clients nationwide to promote CULedger’s MyCUID.

As the credit union industry explores the practical applications of distributed ledger technology (DLT), commonly known as blockchain, they should first seek to understand how digital self-sovereign identity. Self-sovereign identity is a portable form of identification that does not depend on any central authority and is nearly impossible for hackers to steal or corrupt. It is built on DLT technology, which serves as an immutable, highly secure digital network of exchange, and can serve as a bridge between this technology and members’ everyday needs.