Former Coinbase Chief Legal Officer and Acting Comptroller of the Currency cites decentralized blockchain interoperability as critical for expanding US dollar access via stablecoins

NEW YORK: $AXL #axelar--Axelar Foundation today announces it has appointed Brian Brooks, a leader in advancing regulatory clarity and institutional adoption of blockchain technology, to its newly formed Institutional Advisory Board.

Axelar Foundation is the nonprofit organization established to support growth and adoption of Axelar Network, a decentralized blockchain interoperability platform.

"Digitization and tokenization of financial assets such as stablecoins and real-world assets is critical in order to ensure US resilience and global competitiveness. To do it successfully, tokenized assets need to be accessible across all blockchains and blockchain interoperability is critical technology enabling this," Brooks said. "The interoperability stack can only scale when its foundations are secure, decentralized and open-source so anyone can integrate around them. As the most advanced interoperability platform, Axelar Network is uniquely suited to interconnect Web3 and traditional finance."

With regulatory clarity on the horizon, financial institutions have made the business case for stablecoins and other tokenized real-world assets (RWAs) on blockchains. As they prepare innovative, globally available financial products, their need to interconnect multiple public and private blockchains has been documented by Axelar Foundation and Metrika in a white paper, "Institutional Interoperability," with insights from Citi, Deutsche Bank, Mastercard and Northern Trust.

"Brian has been a leading voice for clear regulation and institutional use cases for decentralized blockchain technology," said Georgios Vlachos, co-founder of Axelar protocol and director at Axelar Foundation. "As an advisor, Brian will be a tremendous partner in our continued efforts to advance blockchain interoperability infrastructure and tooling that accelerates compliant stablecoin availability worldwide."

Brooks previously served as Acting Comptroller of the Currency, where he was the administrator of the federal banking system and chief officer of the Office of the Comptroller of the Currency (OCC), supervising institutions responsible for approximately 70% of all US banking business. He also served as chief legal officer at Coinbase, executive VP and general counsel of Fannie Mae, CEO of Bitfury, and on the boards of MicroStrategy and other notable fintech and blockchain companies.

About Axelar

Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups with a combined total value locked (TVL) that has crossed $1 billion. Axelar supports a best-in-class developer stack on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: axelar.network.

About Axelar Foundation

Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized blockchain interoperability platform that connects multiple blockchain ecosystems. Learn more at axelar.foundation.

Fonte: Business Wire