Blockchain Capital Becomes The Newest Member Of The Facebook-Led Libra Association
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Blockchain Capital has just been added to the Libra Association as was released in a blog post published at the end of last week on the 18th of September. The Geneva-based association announced that the company would be using its technology to create a more equitable payment system.
On top of this, the company will bring in its knowledge and expertise in the boxing industry as well as some of the biggest figures in association with the Facebook lead stablecoin. The vice-chairman of the Association, Dante A. Disparte said the following on the new collaboration.
“As a member of the Libra Association, Blockchain Capital brings deep industry insight and a dynamic network of supporters as we work on building a blockchain-based payment system that supports responsible financial services innovation.”
As a little bit of background on blockchain capital, it was founded in 2013 with the company having investments in numerous crypto companies all over the industry including The San Francisco-based blockchain initiative ripple and the exchange Coinbase.
Ever since the announced project of Libra, Facebook has had a significant amount of backlash, mainly from regulators and lawmakers in the United States.
In other news relating to the Association, James Emmett, former CEO of HSBC has been brought on board as the new managing director of its subsidiary, Libra Networks LLC. The hope is that due to his expertise and operational experience, it will help make the vision for the project a reality.