Swiss Companies Form Trade Association for Blockchain Asset Managementbr>
Twenty financial and blockchain companies have joined forces to form a trade association in Switzerland, with the goal of establishing a unified, industry-wide voice for tackling issues in the asset management industry.
Called Multichain Asset Management Association (MAMA), the Swiss trade association was announced at the first M-0 conference in Zug, Switzerland. The association was initiated by Melonport AG, MME Legal Tax Compliance & Bussmann Advisory with the support of Canton of Zug Economic Affairs.
MAMA was created due to the growth of Multichain Asset Management (“MAM”) technology, which has the potential to hasten a sweeping transformation of the Asset Management industry while democratizing and streamlining the cumbersome processes and infrastructure upon which the global financial system runs today, according to the release.
The 20 founding members of MAMA include: University of Luzern, Credit Suisse AG, Passport Capital, JTC Group, Melonport AG, MME Legal Tax Compliance, Bussmann Advisory, ConsenSys uPort, Bitcoin Suisse, Crypto Fund AG, Kenetic Capital, Lendroid, 0x Project, Ethfinex, Omega One, Vo1t, Kryptonite, Cyber Fund, Neufund, Midas Technologies AG, Lakeside Partners and Virtual Capital Ventures.
The founding members will function as a trade body working towards a new vision for asset management using blockchain and other supporting decentralized technologies.
“The asset management industry is in the middle of a digital disruption,” said Oliver Bussmann, founder and managing partner of Bussmann Advisory. “The MAMA initiative will be the catalyst for the business disruption embracing distributed ledger technologies.”
“MAM technology has developed to the point where we can see the cusp of it transforming the infrastructure of our global financial system,” said Mona El Isa, co-founder and CEO of Melonport. “We created MAMA to facilitate a forum for leaders across all industries to discuss, plan and engage with one another to drive innovation and positive change in the asset management industry as we build out this technology together in the coming years. We’re truly thrilled and honored to partner with an incredible group of founding members, who are leaders in their industries.”