Facebook’s cryptocurrency partners revealed—we obtained the entire list of inaugural backers
As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms known as the Libra Association, which includes the likes of Visa, Mastercard, and PayPal. But The Block has gotten its hands on consortium marketing materials and can now report dozens of firms not previously known to be involved, including investors such as Andreessen Horowitz and Union Square Ventures, cryptocurrency exchange Coinbase, and non-profits including Mercy Corps. Calibra, a subsidiary Facebook formed to oversee the social media giant’s crypto efforts, is also among the founding members, according to a source familiar with the matter.
How to become a founding member of the Libra Association
Validators will have the option to run their node self-hosted, in which they themselves would be directly managing it, or cloud service-hosted, where the organization could run the node via a cloud service provider.
Must meet two of the following criteria:
- More than $1 billion USD in market value or more than $500 million USD customer balances.
- Reach more than 20 million people a year, multinationally.
- Be recognized as an established top-100 industry leader by a third-party association.
Anchorage Becomes Founding Member of the Libra Association
Today, we are honored to announce that Anchorage will be a Founding Member of the Libra Association, an independent not-for-profit group responsible for the operation and governance of the Libra network. Libra Association Founding Members include some of the world’s most trusted leaders in finance and technology.
Spotify Why We’re Joining the Libra Association
Spotify has always focused on innovation that fosters greater accessibility. Since day one, we’ve worked to create a platform where fans can directly access the audio they want—at any time, anywhere, and at the right price—while also offering economic viability for creators.
Continuations - Joining the Libra Association
Today we announced that we have joined the Libra Association, the governance for a global stable coin. Nick has written a post on the USV blog explaining our decision. I have argued before that we don’t really know what path will take us to a decentralized future and therefore have to try many things. Some of these paths involve centralized corporations exposing their endusers to crypto. Nobody has more users than Facebook!
Why USV is Joining the Libra Association
A new blockchain & cryptocurrency project, Libra, was announced today. Libra has been incubated by Facebook. USV will be one of the founding members of the governing body, the Libra Association. Libra is a stable, fiat-backed cryptocurrency that will launch inside some of the world’s largest consumer-facing applications.
- Farfetch Joins Facebook’s Libra Association, Is Kylie Jenner Looking to Sell Kylie Cosmetics?
- Visa announces intent to join the Libra Association
- PayPal : Why PayPal Plans to be Part of the Libra Association
This is Why These Two Crypto Companies Joined Libra Association
Four blockchain related companies have joined the club:
- Anchorage, a digital asset custody;
- Bison Trails, an infrastructure platform for a number of protocols and blockchains;
- Coinbase, a major crypto company, best known for its exchange and wallet services;
- Xapo Holdings Limited, a custodian of the cryptocurrency.
Social ShareTwitter Facebook LinkedIn Reddit