Blockchain Capital Becomes the 27th Member to Join the Facebook-Backed Libra Association

  • Blockchain Capital, an investment company that was among the first ones to finance crypto-based projects, has joined Libra Association, the governance body spearheading the Facebook-led Libra blockchain project.

In a press statement shared with Bitcoin Exchange Guide, Libra Association stated that one of the giant venture capital firms in the industry has become its latest member. The association further added that Blockchain Capital will advise on various aspects in regards to its payment system.

Blockchain capital is also set to offer its various experts as well as different industry figures for use by the association, Libra’s chief of policy and communication Dante Disparte stated.

The Libra Association now has 30 members who are working together to design a “more equitable payment system” with Libra.

Blockchain Capital’s co-founder and managing partner, Bart Stephens stated that his company believes that modern technology can be used to enhance financial access in the world. He said:

“Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”

Blockchain Capital was started in 2013 and has so far invested in more than 80 companies within the blockchain and crypto industry inclusive of Ripple and Coinbase.

The Libra Association was started in June 2018 following Facebook’s release of a white paper for its intended stablecoin project dubbed Libra. At that time, the association included various global firms as founding members such as Mastercard, Visa, PayPal, eBay, Stripe, Uber, Andreessen Horowitz as well as Coinbase. However, most of them have departed the association following regulatory pressure and scrutiny from the authorities.

Libra Association has added various firms this year such as Shopify and Checkout.com in efforts to revitalize the association. However, the firm is still miles away from its target of 100 members.

The association which is based in Switzerland has also been active in appointing top executives and on Thursday, the firm announced the appointment of ex HSBC CEO as the chief of its operating firm, Libra Networks LLC. The association had also previously announced the appointment of Stuart Levey, HSBC’s ex legal officer as its CEO.

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Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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