Temasek is one of the three newest names to join the Libra Association. Facebook’s digital currency project on May 14. The Libra Association is an independent group base in Switzerland, establishe to manage Facebook’s digital currency project. Cryptocurrency investment fund Paradigm and private equity firm Slow Ventures are the other two names.
Facebook’s Crypto Currency Project
Last year, Facebook launchd Libra with the expectation. That it would become a new global payment method, replacing Night Clubs Bars Email List traditional forms. This makes Temasek, a state-owne investment fund managing Singapore’s $313 billion portfolio, one of the biggest names in favor of Libra. Before that, the British payment. However, Mark Zuckerberg’s plan was quickly criticize by regulators because a coin like Libra would weaken traditional currencies and even disrupt the financial system. On the contrary, it will give Facebook a huge power in the context of this social network has a history of scandals about user privacy.
A series of big names have pulle out of Facebook’s ambitious projects. Including Visa, Mastercard and PayPal. This makes Temasek, a state-owne investment fund managing Singapore’s $313 billion portfolio, one of the biggest names in favor of Libra. Before that, the British payment start-up Checkout.com joine the project in April.
According To The Libra Association Temasek’s Entry
Wwill give the coin a distinct position with Asian investors. For his part, Chia Song Hwee, including Visa, Mastercard and PayPal. This CMB Directory makes Temasek, a state-ownd investment fund managing Singapore’s $313 billion portfolio, one of the biggest names in favor of Libra. senior leader of Temasek said: “Our participation in the Libra Association as a member will allow us to contribute to a global network at the expense of payment. short. The growth potential excites us and we look forward to understanding and discovering more with the potential of the technology.”
To avoid objections from regulators. Facebook’s Libra project is being planne for a smaller scale.
