Despite legal hurdles, Libra is gaining favor and adding new members. Blockchain Capital is the latest blockchain company to join Libra Association.
Blockchain Capital Role in Association
Libra Association welcomes its new member Blockchain Capital, a giant and oldest blockchain firm. According to the official announcement, Blockchain Capital will work with Libra to develop a “more equitable payment system.”
According to Libra, Blockchain Capital “is a leading blockchain industry investment firm with deep sector expertise and reach. Through their support and advancement of blockchain endeavors across a range of use cases, Blockchain Capital has amassed a network of experts and entrepreneurs spanning a diverse set of industries and geographies.”
Bart Stephens, Co-founder and Managing Partner of Blockchain Capital, said:
“We’re honored to join the Libra Association and believe deeply in the mission of creating a more equitable payment system. Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”
Dante Disparte, Vice Chairman and head of policy and communications for the Libra Association, said:
“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.”
Libra Association is a blockchain project for stablecoin announced by Facebook in June 2018. At the time of release, the Libra Association was consist of giant financial companies such as Visa, Mastercard, PayPal, eBay, Stripe, Coinbase, Uber, and Andreessen Horowitz. Due to legal and regulatory pressure from the US government, many big companies left the project and walked away.
Libra’s Development in 2020
However, Libra has gained a push after the entry of some reputed companies such as Shopify and Checkout.com. Currently, 30 members have been added to the list, but the target of the Libra Association is to onboard 100 members. It has also appointed financial experts on top executive positions in 2020. For instance, the Association has appointed Stuart Levey as Chief Executive Officer, Steve Bunnell as Chief Legal Officer, James Emmett as Managing Director of Libra Networks, and Sterling Daines as Chief Compliance Officer.
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