Chamber of Digital Commerce, the leading trade association representing the blockchain industry, has added financial services firm IHS Markit as its member.

Joining the global trade association that promotes the understanding, acceptance and use of digital assets and blockchain, IHS Markit will collaborate and work with other Chamber members to support the legislative as well as regulatory efforts of blockchain or distributed ledger technology (DLT) in the financial markets.

“We see opportunities to use DLT to help our clients reduce operational risk and cost, use collateral more efficiently and fundamentally change the risk profile of complex financial products. We are pleased to support the Chamber in advocating for policies that help realize these goals while fostering higher levels of trust in global financial infrastructure through technology innovation,” Jeff Billingham, vice president at IHS Markit, stated.

IHS Markit will bring in the Chamber, its expertise on the complex requirements of OTC derivatives, trade confirmation and lifecycle management, data governance as well as technology infrastructure.

The Washington D.C.-based Chamber recently hosted ‘DC Blockchain Summit’ at Georgetown University that featured the brightest and the best in blockchain industry and government across the globe. The Chamber of Digital Commerce brings industry leaders and policymakers to collaborate and engage on digital assets and blockchain. Its members are prominent organizations including startups, software companies, global IT consultancies, financial institutions and investment firms.

“The deep industry expertise that IHS Markit offers will be key in furthering the Chamber's advocacy and education initiatives and securing the future of distributed ledger technology," Perianne Boring, founder and president of the Chamber of Digital Commerce, said. “We are thrilled to welcome IHS Markit to the Chamber’s membership.”