The organisation, which was founded in 2016, now represents 26 members from six countries across the European Union. These include: Ebury, Holvi, Wirecard, Figo, FinTech Group, Ingenico, SlimPay, Investify, Blackbill, Visualvest, Solarisbank, Outbank and Crossinx.
“Innovation in financial technology, if not dwarfed by regulatory discrepancies and redundancies that still exist, is easy to scale across all member states. It is therefore a potential hotbed for startups and SMEs to grow and become future pan-European champions,” says Roman Kessler, Co-Chair of the EFA.
“The advent of blockchain and distributed ledger technologies is a powerful case in point. We are very happy that Bitwala is joining the EFA to address regulatory challenges in this new field and maintain both entrepreneurial liberty and the EU’s high regulatory standards.”
“Some of the best known blockchain companies are domiciled in the EU and need consistent and harmonised regulation to pave the way for growth and innovation. It is a great advantage for both the FinTech and crypto industries to give room for a progressive EU policy debate through a forum such as the EFA. We join the alliance to share knowledge and maintain dialogue with key decision makers,” comments Bitwala CEO, Joerg von Minckwitz.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.