Digital asset exchange and financial service provider AAX has signed up to the Global Digital Finance (GDF), the industry membership organisation working to develop best practices for the cryptocurrency industry.
AAX, which offers a suite of services around crypto wealth management, research and education, joins the likes of BCGroup, Circle, Coinbase, Consensys, Diginex, R3 and Solidus Labs, as well as ING Group and London Stock Exchange Group as GDF members.
GDF members are expected to promote the adoption of best practices for cryptoassets and digital finance technologies, through the development of conduct standards, in a shared engagement forum with market participants, policymakers and regulators.
AAX, which launched in November 2019 at London Stock Exchange, has also registered its self-attestation, committing to uphold industry standards around market integrity, know your customer (KYC), anti-money laundering (AML), token sales and issuing.
“AAX was built in anticipation of increased institutional participation in the crypto markets, and the expectation that standards around performance, security and integrity would be raised in the face of mainstream adoption,” says Ben Caselin, AAX’s head of research and strategy.
“We believe the lasting success of any attempt to promote codes of conduct, as well as the efficacy of research in advancing discourse, to be dependent on the extent to which these efforts are community-driven and inclusive of a wide array of perspectives.
“GDF has gained credibility in the crypto community as well as with regulators and policy makers. As such, GDF provides a unique meeting point for various stakeholders and we’re excited to be part of the conversation.”
GDF recently revealed it has 101 ‘code members’ in its GDF Code Certification Programme.