Facebook-backed Libra welcomes Blockchain Capital as new member
Monday, 09 21 2020, Category: Technology, Country: World
The Facebook-initiated Libra blockchain project continues to grow as its governing body adds a new major industry partner.
Blockchain Capital, one of the largest venture capital firms in the blockchain industry, has joined the Libra Association, according to an official announcement Friday.
Alongside the other 26 association participants, Blockchain Capital will now be working to create a “more equitable payment system” with Libra.
Bart Stephens, co-founder and managing partner at Blockchain Capital, said, “Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”
The Libra Association was formed in June 2018 after Facebook originally released a white paper for its stablecoin project, Libra. At the time of release, the association had a number of major global companies as founding members, including Mastercard, PayPal, Visa, Stripe, eBay, Coinbase, Andreessen Horowitz and Uber. However, many initial members have since left the association amid global regulatory pressure.