Libra, the Facebook-backed blockchain project, has added a new major industry partner Blockchain Capital, one of the largest venture capital firms in the blockchain industry.
It has been reported that alongside the other 26 association participants, Blockchain Capital will now be working to create a “more equitable payment system” with Libra.
Bart Stephens, the co-founder and Managing Partner at Blockchain Capital, said:
“Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”
However, the Libra Association was formed in June 2018 after Facebook originally released a white paper for its stablecoin project, Libra. At the time of release, the association had a number of major global companies as founding members, including Mastercard, PayPal, Visa, Stripe, eBay, Coinbase, Andreessen Horowitz, and Uber.
We are excited to welcome @blockchaincap to the Libra Association. https://t.co/g0PbEUerUR — Libra (@Libra_) September 18, 2020
As per the report, many initial members have since left the association amidst global regulatory pressure.
Likewise, Libra has seen some revitalization this year, with the Libra Association adding more members such as Checkout.com and Shopify. With 30 members so far, Libra’s governing body is still far from its planned 100 members.
The Switzerland-based association has been also appointing top financial services experts as executives in 2020.
Thus, On September 17 (Thursday), the Libra Association appointed HSBC veteran James Emmett as Managing Director of its subsidiary firm, Libra Networks LLC.
Source: Cointelegraph | Image:
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