Digital Currency/Stablecoin/Tokenization Series: Facebook’s Libra Gets Support From Singapore-Based Investors’ Consortium

Facebook’s Libra is back to the drawing board, the Libra Association has designated and authorized the establishment of a technical steering committee that is exclusively dedicated to administer and for implementation of the technical infrastructure of the Libra project. The latest news in the digital currency space is that the three new members have joined Facebook’s the Libra Association.

Yesterday, the Switzerland-headquartered consortium which administers the Libra stablecoin project's development, announced the addition of three new members, namely, the $300 billion Singapore investment giant Temasek along with VC firms Slow Ventures and Paradigm are the new members to Libra.

In a press statement, Libra Vice Chairman Dante Disparte said that the three additions "show our commitment to building a diverse group of organizations that will contribute to the governance, technological roadmap and launch readiness of the Libra payment system.”

Libra did not respond to questions concerning the weight of investment firms on its council. This developments with Libra project seeking to establish worldwide digital payments network.

Ever since the sovereign nations grilling Facebook’s Libra, many central banks appear to be optimistically designing & developing the native cryptocurrencies, and Year-2020 can witness some experimentations in this perspective.