The new association was initiated by Melonport AG, MME Legal Tax Compliance & Bussmann Advisory, announced a statement.
The founding members are 20 companies including the major Zurich bank Credit Suisse, several fintech firms such as Crypto Fund AG and Bitcoin Suisse, the investment group Lakeside Partners and Lucerne University. The canton of Zug is supporting the consortium.
The so-called Multichain Asset Management Association (MAMA) seeks to work towards a new vision for asset management that is based on Blockchain and other decentralized technologies.
It will tackle regulation, promote research and development and guarantee security crucial to the technology.
Ultimately intending to provide a forum for discussion in the field, MAMA will also advocate regulation for decentralized asset management.
According to Oliver Bussmann, founding partner of MAMA and founder of Bussmann Advisory, Multichain Asset Management is growing rapidly. The technology has the potential to transform the industry, he said, adding that the MAMA initiative will be the catalyst for digital disruption in asset management.
