The founders of the Wall Street Bitcoin Alliance (WSBA) announced this week the launch of the organization, which is composed of business and technology executives and leaders within the financial sector, including banks, broker-dealers, institutional investors, and hedge funds.

The WSBA said in a press release that its mission is to guide and promote comprehensive adoption of cryptocurrency and blockchain technology across financial markets.

To execute this strategy, the alliance will engage with policymakers, regulators, and technology innovators to guide the public dialogue about Bitcoin and blockchain technology so that financial markets can realize the full potential of these ever-changing and innovative capabilities.

“Bitcoin and blockchain technology and protocols represent a seismic shift in how financial markets, and all aspects of the global economy, will operate in the future,” said Ron Quaranta, executive director of WSBA, in the press release. “As we work to incorporate and adapt these powerful technological advances to the world of ‘Finance 2.0’, having an organized, strategic approach will aid all participants understand and embrace the Bitcoin ecosystem.”

Quaranta added, “We believe that the long-term result will be more efficient markets, more cost-effective solutions for equity ownership, investment and trading, and ultimately greater value and wealth creation for all participants in the world of finance and trading.”

Along with Quaranta, WSBA’s executive committee is composed of industry leaders across the brokerage, legal, and trading professions, including James Jalil, senior partner and head of the cryptocurrency practice at the law firm Thompson Hine; Gil Luria, managing director at Wedbush Securities; and Christian Martin, CEO of TeraExchange.