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  • Writer's pictureMichael Bacina

Libra larger with 3 new members

Updated: May 2

The Libra Foundation, which is developing the Libra digital currency, has added three new members, helping replace the loss of Visa, Mastercard and Paypal, who left after veiled threats by the US Government.

The three new members include Singapore sovereign wealth fund Temasek, which announced a blockchain based payments platform in a partnership with JP Morgan late last year. Temasek has investments in Standard Chartered Bank and Mastercard (which left the association last year).

The other new members are venture capital firms Slow Ventures and Paradigm. Paradigm is a blockchain focused VC firm based in San Francisco and Slow Ventures is a technology focused VC with past investments in Slack and Airtable.

Libra Vice Chair Dante Disparte said:

The addition of three new members to the Libra Association, shows our commitment to building a diverse group of organizations that will contribute to the governance, technological roadmap, and launch readiness for the Libra payment system

The inclusion of Temasek is a clear signal of Singapore's continued support of digital currency businesses including Libra. The addition of Shopify and last year also boosted the reach of the Association, which continues to develop their open source blockchain payment system.

The Libra project has evolved considerably since launch and is presently moving towards a multi-currency stablecoin approach with not investment token, and has former Under Secretary for Terrorism and Finance Intelligence, Stuart Levy, becoming CEO in a few months.


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