VirgoX, a stablecoin-focused digital asset exchange, recently announced it has joined forces with Global Digital Assets (GDA Capital), a blockchain capital markets firm, to launch World Stablecoin Association (WSA), an independent, not-for-profit organization that is structured and headquartered in Geneva, Switzerland.
According to the duo, WSA’s mission to unite business leaders, enterprises, community buildings, and regulators in the stablecoin industry internationally. The organization’s membership currently consists of the two founding firms and BlockGeeks, whose CEO Ameer Rosic is also on the WSA steering committee, as well as some of the leading stablecoin projects including BRZ, CBRL, Peg Network, QCAD, QC, Ren, Stably, USDK and XDB and capital groups such as Alpha Sigma Capital, Consensus Labs, and Nova Club. While sharing details about WSA, Adam Cai, CEO of VirgoX, stated:
“Stablecoin is evolving rapidly with the exponential growth of total market cap in the past couple of years. The potential of stablecoin applications is yet to be fully unveiled. WSA is established to assist various stablecoin initiatives to develop and get connected within the industry. Every member shall benefit from the open ecosystem that WSA is building.”
The WSA has four pillars are the following:
- Policy Analysis: Will join forces with other research institutions, think tanks and associations to analyze the global regulatory and economic landscape of stablecoins.
- Education: Will publish educational material and arrange meetups and conferences including an annual World Stablecoin Summit each year.
- Partnerships: Will leverage relationships across industry verticals to support members in forming meaningful global alliances.
- Advocacy: Will act as the voice of the stablecoin industry and represent stablecoin projects and other industry vertices to accelerate the stablecoin policy-making process.