Credit Union Trade Body NAFCU Joins Enterprise Ethereum Alliance

The National Association of Federally-Insured Credit Unions (NAFCU), a U.S. trade organization, has become the latest member of the Enterprise Ethereum Alliance (EEA).

With the move, the body joins over 300 businesses that have already signed up to the consortium, pooling efforts to build enterprise-focused distributed ledger technology (DLT) that is compatible with the ethereum blockchain.

NAFCU, which also joined the Hyperledger blockchain consortium in October, will see its cybersecurity and payments committee engaging with EEA members to discuss how credit unions can get more deeply involved with the blockchain ecosystem, according to a press release.

NAFCU president and CEO Dan Berger stated:

"With this new partnership, NAFCU hopes to bring critical knowledge of blockchain technology to the credit union industry and create an innovative environment where NAFCU members can inform technology firms of what credit unions need most."

More than 50 companies have joined the EEA in the past three months, including Hewlett Packard, Australian Digital Commerce Association and Sberbank. More recently, oil and gas supply chain management platform PetroBLOQ became a member of the group on Monday.

Plastic blocks image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Sujha Sundararajan

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.