The Facebook-developed Libra project has reportedly included Blockchain Capital – one of the top-tier venture capital firms across the blockchain sector – to further expand its presence.
Specifically, Blockchain Capital will become a member of Libra, joining previously onboarded other 26 association industry players, and will collaborate with Libra on a “more equitable payment system”.
“Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.” Bart Stephens, co-founder and managing partner at Blockchain Capital, reportedly remarked.
The Libra Association was reportedly previously established in June 2 years ago, following Facebook’s initiative to publicly release a white paper for its stablecoin project, Libra. Upon the roll-out, a wide range of big names from different sectors have become members of Libra, including Mastercard, PayPal, Visa, Stripe, eBay, Coinbase, Andreessen Horowitz and Uber.
Nonetheless, a few have chosen to depart from the Association, due to concerns about regulations. New members have been onboarded since, then nominally Checkout.com and Shopify. Nonetheless, the current 30 members are still not the 100 figure Libra has in mind yet.
Different executives from major corporations have reportedly also been appointed to take charge different positions in the Association.