The Wall Street Blockchain Alliance (WSBA), a non-profit distributed ledger technology trade association, has secured a new member, adding New York-based KPMG LLP as the latest entrant to its organization.

KPMG LLP is the US operation of KPMG International Cooperative, a group that provides audit, tax and advisory services to businesses in 152 countries worldwide.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

The WSBA aims to help guide and promote the comprehensive adoption of distributed ledger technology across all financial markets. As the newest corporate member of the WSBA, KPMG LLP will join the growing ranks of proactive industry leaders in facilitating the growth and adoption of ledger technology. Along with this membership, the company will also assume a seat on the board of directors.

Commenting on the membership announcement, Ron Quaranta, Chairman of the WSBA, said: “We are thrilled to be joining the WSBA and to have the opportunity to collaborate with some of the leading blockchain experts in the industry. We are truly grateful to have KPMG join the WSBA family as a corporate member. As one of the world’s leading professional services companies, KPMG sits at the cutting edge of blockchain innovation across multiple segments of the global economy. We look forward to collaborating with them, as our global members and indeed the world, begin to implement blockchain innovations across financial markets and beyond.”

Eamonn Maguire, global head for KPMG’s Digital Ledger Services, added: “Blockchain is maturing toward the production phase and it is clear that it has the potential to dramatically impact financial services by improving outcomes critical to the industry such as cost of operations, capital consumption, customer experience and in some cases new business models and revenues.”