San Francisco Based Blockchain Capital Joins Libra Association

San Francisco Based Blockchain Capital Joins Libra Association

The most recent member of the Libra Association has become Blockchain Capital, a San Francisco based firm. The company has joined the other 28 members of the association as Facebook is heading the fight for a stablecoin launch.

Blockchain Capital was established in 2013 and has important stakes in other blockchain and cryptocurrency companies, which include BitGo, Ripple, and Coinbase.

The head of the Policy and Communications for Libra Association, Dante Disparte, concluded that,

As a member of the Libra Association, Blockchain Capital brings deep industry insight and a dynamic network of supporters as we work on building a blockchain-based payment system that supports responsible financial services innovation,” 

Since June of 2019 Facebook has been on a journey to launch Libra. The formation of the non-profit association was organised to more easily govern the stablecoin. Yet, the stablecoin has been the subject of controversial shorts fired in its direction.

The response of the Libra Association was to update its whitepaper, and in so doing to change the structure of the digital coin. However, these efforts were futile, as global regulators are still unhappy with Libra on many fronts.

However, that has not stopped the Libra Association in recruiting companies like Tagomi, Temasek, Shopify, and Checkout.com.

Nevertheless, in the last year the association saw some of its biggest players dropping out. The likes of Visa, PayPal, MasterCard, and Vodafone all decided to terminate their relationship with the Libra initiative.

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