Zürich, February 9th 2021– Major players of the Swiss financial landscape announce the creation of the Blockchain Association for Finance (BAF).
The BAF is an independent non-profit organisation based in Zurich, Switzerland, that brings together Banks and External Asset Managers to improve compliance and administrative exchanges thanks to technology.
BAF’s mission is to provide governance and management rules for a blockchain-based platform (Wecan Comply – www.wecancomply.com), aiming at simplifying the sharing of information among, on the one side, banks and, on the other side, external asset managers. At a future stage, the platform may also aim at simplifying the sharing of information among all financial services providers, other financial intermediaries, auditors and supervisory authorities. Wecan Comply platform’s long-term viability and its sustainability are ensured by the BAF.
To fulfil its mission, the BAF will monitor regulatory changes in order to ensure the compliance of the Wecan Comply platform with the laws and rules in force and to determine and improve the common standards for the onboarding of external asset managers and the ongoing exchange of due diligence information between banks and external asset managers. The association is also in charge to determine and decide on the necessary common developments, improvements, additional specifications or common functionalities of the platform. Workshops with experts and the members, regarding regulatory developments will be organized.
List of current members: Banque Pictet & Cie SA, Bank Lombard Odier & Co. Ltd, Edmond de Rothschild (Suisse) SA, Hyposwiss Private Bank Geneve SA, Gonet & Cie SA, Sygnum Bank, Reyl & Cie SA, Banque Cramer & Cie SA, Mirabaud & Cie SA, Banque Internationale à Luxembourg (Suisse) SA, Pleion SA, Capitalium Advisors SA, Bedrock SA, Fransad Gestion SA, OLZ AG, Stanhope Capital, Alliance of Swiss Wealth Managers.
The board of the association is composed of members from Altenburger law firm, Banque Pictet & Cie SA, Bank Lombard Odier & Co. Ltd, Edmond de Rothschild (Suisse) SA
and the Alliance of Swiss Wealth Managers (ASWM).
For more information, visit www.BlockchainAssociationforFinance.org