Singapore’s Temasek has joined Libra together with Paradigm and Slow Ventures.
Libra is a permissioned blockchain digital currency proposed by the American social media company Facebook, Inc. Facebook established the Libra Association – founded in Geneva, Switzerland – to oversee the currency.
The design of a blockchain-based payment system that supports responsible financial services innovation and inclusion for billions of people requires a diverse set of members in different industries, geographies and sectors to help catalyze development over the long term.
About the Libra Association
The Libra Association is a Swiss independent member organization, consisting of geographically distributed and diverse businesses and nonprofit organizations.
The Libra Association is developing a blockchain-based payment system supporting financial inclusion and responsible financial services innovation.
Temasek, a global investment company headquartered in Singapore, brings a differentiated position as an Asia-focused investor.
With its forward looking and long term view, Temasek sees innovative technologies such as blockchain as transformative enablers of growth.
Temasek’s efforts to support and advance the use of blockchain technology across a range of use cases, asset classes and sectors, reflects its drive to explore, develop and invest in solutions to bring about a better, smarter, and more sustainable world.
More details below from the press release.
Meanwhile, Paradigm and Slow Ventures add to the Association’s membership of investment funds, whose technological prowess and commitment to developing the blockchain and digital assets market segment will help spur long term developments in the Libra payment system’s open and competitive standard.
“The addition of three new members to the Libra Association, shows our commitment to building a diverse group of organizations that will contribute to the governance, technological roadmap and launch readiness for the Libra payment system. We are honored to welcome Temasek, Paradigm and Slow Ventures to this effort. Each of these organizations shares our overall mission alignment bringing unique capabilities and long term focus on market development for blockchain and digital assets,” said Dante Disparte, Vice Chairman and head of policy and communications for the Libra Association.
San Francisco based Paradigm is a crypto investment firm focused on leading cryptoassets and businesses from the earliest stages of idea formation through maturity.
Headquartered in San Francisco, California, Slow Ventures invests in companies central to the technology industry and those on the edges of science, society, and culture.
Slow Ventures has backed successful technology-driven disruptors including Slack, Postmates and Airtable.
The addition of three new members grows the Libra Association’s membership, including Heifer International, Checkout.com, Shopify and Tagomi, which were announced earlier this year.
Tags: Blockchain, cryptocurrency, Facebook, Fintech, Libra, news, payments, Temasek