ING to help develop best practices for cryptocurrency industry

On Thursday, Dutch banking firm ING announced it was joining Global Digital Finance (GDF) and will co-chair its Custody Working Group. As co-chair, ING will help guide the development of code-of-conduct principles for custody and custodians alongside fellow co-chair Onchain Custodian.

GDF is a digital assets industry body working with big names such as global professional services firm EY, enterprise blockchain tech company R3, U.S.-based cryptocurrency exchange Coinbase and data analytics firm Messari.

ING’s blockchain initiative lead on digital assets, Herve Francois, said the bank believed in providing an industry network to support the custody and transportation of digital assets which is vital for an “institution-grade ecosystem.”

The group is currently developing a custody roadmap, aiming to be compliant with recent changes and initiatives surrounding the adoption of the Financial Action Task Force’s “Travel Rule.”

Subscribe

Related articles

Fed Moves Could Flood Crypto with Trillions

The cryptocurrency market is abuzz with speculation about the...

Crypto Titans Team Up to Tackle Scams

The cryptocurrency world has been buzzing with the news...

Binance Bounces Back in Florida

The cryptocurrency landscape in the United States saw a...

Bitcoin’s MetaMakeover

The cryptocurrency world witnessed an array of dynamic shifts...

Diamonds on the Blockchain: A New Era for Digital Payments

Diamond Standard Co. has unveiled an innovative blockchain payments...

LEAVE A REPLY

Please enter your comment!
Please enter your name here