Stellar Development Foundation (SDF), a global blockchain-based payments platform, has become the newest member of the Commodity Futures Trading Commission’s (CFTC) Technology Advisory Committee, it said in a statement.
The committee, which was established in 1999, provides advice and recommendations to the CFTC on emerging technologies and their potential impact on the derivatives markets.
Stellar is the first blockchain-based payments platform to join the committee, which is made up of more than 20 members, including experts from academia, industry, and other organizations.
The CFTC said that Stellar’s expertise and experience in blockchain-based payments will be invaluable to the committee.
“The addition of Stellar to the CFTC’s Technology Advisory Committee is a significant step forward in our efforts to bring the benefits of blockchain technology to the derivatives markets,” said CFTC Chairman Heath Tarbert.
“We look forward to working with Stellar to explore how blockchain technology can improve the efficiency and transparency of derivatives markets, and enhance the customer experience,” he added.
Stellar’s membership of the committee is a testament to the company’s commitment to helping the CFTC understand the potential of blockchain technology in the derivatives markets.
“We are honored to join the CFTC’s Technology Advisory Committee,” said Denelle Dixon, CEO of Stellar.
“As a global payments platform, we are committed to providing our customers with a secure and efficient way to transfer money across borders. We look forward to working with the CFTC and other members of the committee to explore how blockchain technology can be leveraged to improve the derivatives markets.”
The CFTC has been actively exploring the potential of blockchain technology in the derivatives markets and has taken steps to ensure that the technology is properly regulated.
