Temasek and Paradigm join the Libra crypto project
Libra just added 3 new members including the powerful Singaporean investment company Temasek.
The Swiss club yesterday Libra announced the arrival of Temasek Holdings Pte, an investment company founded in Singapore in 1974, which manages almost 200 billion euros for its customers.
By participating in the Libra Association, we can contribute to a globally regulated network for retail payments. There are many developments in space that excite us – we look forward to further exploring the potential of the technology. ” commented Chia Song Hwee, deputy CEO of Temasek.
The American crypto investor paradigm, which supports a variety of startups specializing in blockchain and cryptocurrency, as well as the California venture capital company Slow ventures also joined the initiative.
Reveals giant Facebook’s cryptocurrency project in June 2019 caught fire quickly Regulators around the world.
While several key members, such as PayPal, Visa and Mastercard have already left the consortium, Temasek is positioned as one of the largest donors to the ongoing project.
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The addition of three new members to the Libra Association shows our commitment to building a diverse group of organizations that will contribute to governance, the technology roadmap and the start of preparation for the Libra payment system. ” said Dante Disparte, Vice President and Spokesman for the Libra.
In the past month, the online payment company Checkout.com and the nonprofit organization heifer also joined the initiative.
Rather, the Swiss Foundation has appointed this month Stuart Levey, current HSBC legal director and former first under-secretary of the US Treasury, as CEO.
Note that in 2019, the Singapore Monetary Authority (MAS)in collaboration with JP Morgan and Temasek, developed a blockchain-based prototype for multi-currency payments on the same network.