Global financial services association BAFT is set to drive bitcoin and blockchain awareness with the launch of its new FinTech scheme.
The association, which deals with a wide range of topics affecting transaction banking, launched the initiative in an attempt to draw attention to the various innovative technologies that are currently transforming services such as cross-border payments and trade finance.
Tod Burwell, BAFT president and CEO, said:
“Emerging technologies such as blockchain technology, distributed ledgers and virtual currencies are redefining how supply chains operate and payments are executed. Our members understand the critical impact this will have on our industry and have made it a top priority.”
With the launch, the association will also attempt to serve as a vehicle for addressing regulatory issues for both banks and FinTech companies and will attempt to engage more of the latter as members.
Additionally, BAFT will create a FinTech and Innovation Council to guide its efforts around emerging technology and payments and drive execution.
Among other tasks, the council will be responsible for building on the association’s seven-part webinar series on blockchain technology, which launched on 15th September.
The association will also hire a senior vice president of payments and innovation.
Bitcoin image via Shutterstock.