ShredPay Joins Jack Henry Network To Bring Stablecoin Infrastructure To Banks

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TL;DR ShredPay has joined the Jack Henry Fintech Integration Network. The integration can connect ShredPay’s stablecoin and digital-asset services with Jack Henry institutions through jXchange and SymXchange APIs. Jack Henry serves about 7,400 banks and credit unions combined. ShredPay has joined Jack Henry’s Fintech Integration Network, opening a path for banks and credit unions on Jack Henry technology to connect with stablecoin and digital-asset services. The partnership was announced on September 21 and centers on integration rather than a blanket rollout to every Jack Henry customer. ShredPay Connects Through Jack Henry APIs ShredPay describes itself as a stablecoin and digital-asset management platform. Through the Jack Henry network, financial institutions can integrate ShredPay services using jXchange and SymXchange APIs, the interfaces used to connect fintech products with Jack Henry’s core banking systems. That matters because one of the biggest barriers to bank adoption of digital-asset infrastructure is not necessarily demand for the product itself. It is the difficulty of connecting new services to the systems institutions already use for accounts, payments, controls and reporting. The integration network is meant to reduce that friction. Jack Henry’s Reach Makes The Distribution Opportunity Meaningful Jack Henry serves approximately 7,400 financial institutions across banks and credit unions. That figure should not be read as 7,400 banks signing up for ShredPay. The announcement establishes technical and commercial access through the network; individual institutions still decide whether to adopt the service. Even so, getting into the integration layer used by a major core-banking provider can be a meaningful step for a fintech company trying to reach regulated financial institutions. Stablecoins are increasingly being discussed as payment and settlement infrastructure rather than purely crypto-native assets. ShredPay’s Jack Henry integration is another attempt to bring that infrastructure closer to conventional banking workflows. This article was written by the News Desk and edited by Samuel Rae. Source: Primary Source

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