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In February this year, India’s leading bitcoin startups — Zebpay, Unocoin, Coinsecure and Searchtrade, jointly launched <em>Digital Asset and Blockchain Foundation of India</em> (DABFI) for the orderly and transparent growth of virtual currency market.

And now after just nine months, DABFI has announced its merger with the Internet and Mobile Association of India (IAMAI), the internet industry body now has the mandate to represent Blockchain startups in India. The new merged entity will.now be called as — IAMAI FinTech Council.

Leading former members of DABFI such as Zebpay, Unicon and Coinsecure will now become a part of IAMAI FinTech Council.

The new group, led by Zebpay Co-Founder, Sandeep Goenka, would focus on a) popularising Blockchain based technologies in the financial sector, b) suggest innovative regulatory practices for adoption of block chain technologies among government and industry and c) promote Blockchain based startups and d) build and advocacy platform for adoption of cryptocurrency.

Commenting on the developments, Sandeep Goenka said, with Banks, and other digital financial services under it, IAMAI provides the right home to this emerging group.

“Promoting and evangelising cryptocurrencies and digital assets would be our first major goal of this group,” he added.

The IAMAI Fintech council is chaired by Mrutyunjay Mahapatra, Deputy Managing Director and Chief Information Officer at State Bank of India. IAMAI has now opened up its membership for all the Blockchain and cryptocurrency companies in India.

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