CEO of Blockbonds, Mr. Jens Glaso and CTO, Mr. Magne Fretheim have been appointed as members of the working group for the OAX Foundation.

“The aim of the working group is to develop a series of industry “best practices” in the areas of compliance, KYC, holding and security of funds and other key areas that will be integrated into the ongoing development of the OAX platform.

Participants included Blockbonds, a technology start-up that utilizes blockchain technology with the aim of helping to “bank the unbanked”; Trusted Key and Netki, two of the KYC industry leaders; Octagon Strategy, Asia’s largest digital asset OTC trading desk; PwC Hong Kong, adviser to the Foundation with respect to governance, risk management and internal control matters; EY, adviser to the Foundation in relation to taxation and accountancy matters; alongside one of Hong Kong’s top digital asset legal firms, King & Wood Mallesons.

The OAX project aims to develop and launch a decentralized exchange with collateral supported asset gateways acting as the “on-ramps” to the ecosystem. By increasing transparency (including posting collateral to a smart contract for digital assets and/or depositing fiat into segregated accounts), asset gateways allow users to properly evaluate the risk of any trade.”

Blockbonds is excited to take part in the development of the OAX platform.

View full press release here:

http://www.prnewswire.co.uk/news-releases/oax-foundation-launches-digital-asset-industry-working-group-in-hong-kong-657655343.html