AllianceBlock is one of the first DeFi players selected to join the Swiss OpenWealth Association of traditional finance players including Credit Suisse, LGT, VP Bank, and many more

Furthering its mission of compliantly bridging the gap between decentralized finance (DeFi) and traditional finance, AllianceBlock has joined the renowned Open Wealth Association, the leading Swiss ecosystem of global financial institutions and WealthTechs. 

The Open Wealth Association aims to define, maintain and operationalize the open Application Programming Interface (API) standard for the global wealth management community, allowing for more seamless sharing of financial information between institutions. 

Building the future of finance today, AllianceBlock currently provides a stable, compliant gateway for institutional players to access opportunities and technologies within DeFi. Its membership of one of the most connected circles of top-tier banking and traditional finance institutions in Switzerland reflects the growing institutional interest in DeFi and a desire to create a seat at that table for AllianceBlock and other DeFi players within traditional finance networks. Traditional banking members include Credit Suisse, LGT, VP Bank, as well as leading WealthTech members such as Assetmax and InvestSuite. 

The AllianceBlock product suite allows banks, institutions, and WealthTechs to gain access to DeFi via a suite of integrated products that allows banks to connect with and retain clients and assets in a seamless, compliant way. These compliant solutions include an NFT lending platform for illiquid assets (e.g. art, collectables, illiquid funds) for wealth managers and a decentralized investing platform for investors and start-ups. The suite also provides investment products based on tradable DeFi yield strategies wrapped certificates, with International Securities Identification Numbers (ISIN) that can be traded on any stock exchange, and a number of DeFi data solutions that channel all DeFi data into one enterprise-grade API.

Rachid Ajaja, CEO and Founder of AllianceBlock said, “One of the greatest challenges to widespread adoption and integration of DeFi is a lack of understanding. In joining the Open Wealth Association, AllianceBlock is opening its door to other members, where we will both lend our expertise and learn from those working at the forefront of change within the global financial system. AllianceBlock is well-poised to educate a new network of institutional players about DeFi’s ability to reshape the traditional finance world, making it more open, streamlined, and cost-effective. We are excited to work with a host of incredible people to foster innovation, collaboration, and further integration of DeFi  across the finance industry.”