The EU International Association for Trusted Blockchain Applications (IATBA) was just joined by two Spanish banking groups. The association’s goal is to develop EU-wide blockchain regulations and prepare a future launch of EU-wide blockchain applications.
The representatives of BBVA and Banco Santander were invited to an EU blockchain meeting held in Brussels. During the meeting, the EU officials revealed that IATBA will go live during the first quarter of 2019, BBVA wrote in its press release.
BBVA and Santander are amongst the first banks invited to become a part of the IATBA, however, no details were released in regard to other invited banks.
BBVA has already tested multiple blockchain solutions. It partnered with Repsol, a Spanish energy company, to test Hyperledger and Ethereum amongst other blockchain technologies.
Santander is also testing the blockchain technology. It is a member of the Blockchain Working Group since 2016 and joined IBM’s Blockchain Platform alongside a few other banks in July 2018. It also created a research team exploring the use of blockchain in trading.
IATBA is supported by the European Blockchain Partnership – a collaboration of 27 EU countries, which are working together to create a European Blockchain Services Infrastructure.