The Libra Association

2 minute read

Association

  • 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

    Technical Requirements

    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.

    Evaluation Criteria

    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.

Joining LibraAssoc