Libra Association, the now-independent member organization overseeing the Facebook-planned Libra token development, is notably becoming active on its mission in the recent days. On Thursday, the non-profit association onboarded an ex HSBC official to lead the initiative forward. Today, it announced Blockchain Capital as its newest governance member.
Blockchain Capital joins Libra Association
The development was confirmed in a press statement published by the association on Friday. Going forward, Blockchain Capital, as a governance member, will participate in the key decision making for the development of both the Libra network and its Reserve. Specifically, the association noted that the company will recommend better ways to ensure the creation of the long-planned Libra payment system.
Also, the Vice Chairman of the Libra Association, Dante Disparte, 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 project is gaining more ground
Blockchain Capital, the newest governance member of the Libra Association, is notably one of the long-standing investment companies in the cryptocurrency and blockchain ecosystem. The venture capital firm has funded more than 80 industry companies, since its inception seven years ago. It reportedly holds investments in digital currency exchange, Coinbase, and Ripple.
Last year, may people had assumed that the Libra project would die-off as several prominent companies like Mastercard, PayPal, etc., began withdrawing from the association suddenly. However, the organization vowed to remain even with 21 company members then. Fast forward to today, the association seems stronger. It recently welcomed three new members, as Cryptopolitan reported.
Meanwhile, the organization has appointed the former HSBC top official, James Emmett, as the managing director of Libra Networks LLC, a company operating under the association. Emmett is to work towards the enhancement of “financial innovation and inclusion and to deliver the operationalization of the network.”
