The industry advocacy group Crypto Council for Innovation will assimilate the Proof of Stake Alliance, and the latter's director will remain with the project.
CCI has also hired an advisor in Africa and cemented partnerships with groups based in Japan and the U.K., trying to extend its global reach as jurisdictions everywhere are hatching crypto policies.
The Crypto Council for Innovation (CCI) is taking in the Proof of Stake Alliance (POSA) as regulators worldwide increase their attention on stakings' role in digital assets, where hundreds of billions of dollars are on the line.
Alison Mangiero, POSA's executive director, will remain at the helm of the project as it comes under the CCI umbrella, according to a Wednesday statement from the groups in which Mangiero called it a "pivotal step forward." The staking industry alliance, whose members include crypto-oriented firms such as Andreessen Horowitz, Ava Labs and Paradigm, had been advocating for proof-of-stake ecosystems, an approach that includes Ethereum {{ETH}} and Cardano {{ADA}}.
"Combining POSA's technical expertise with CCI’s global advocacy reach will create the ideal team to lead the conversation around the future of this crucial issue," said Sheila Warren, CEO of CCI, in a statement.
Read more: What Is Proof-of-Stake?
POSA had previously worked on setting industry-driven standards for staking.
As CCI seeks to expand its influence on digital assets policy globally, the 15-employee organization also secured partnerships with other advocacy groups, including the Japan Cryptoasset Business Association to team up in Asia and the Global Digital Finance in the U.K. In these collaborations, the groups will work together on research, advocacy events and combined responses to government policy efforts.
CCI has also brought on a new advisor in Africa, Yele Bademosi, the co-creator of the Onboard platform, the group said.
Read more: Crypto Staking 101: What Is Staking?
