The crypto investment firm Blockchain Capital joined the Libra Association as an adviser on building a global payments system.
We are excited to welcome @blockchaincap to the Libra Association. https://t.co/g0PbEUerUR
— Libra (@Libra_) September 18, 2020
The collaboration with the organization is expected to give the company access to industry experts and leaders.
“Using blockchain to increase the accessibility of financial services and promote innovation are central elements of Blockchain Capital’s portfolio strategy,” said co-founder and managing partner Bart Stephens.
Blockchain Capital was founded in 2013 and is a major investor in technology startups. In November 2019 it participated in a funding round for Libra Association participant, the blockchain company Bison Trails, worth $25.5 million.
The Libra Association, created in June 2019, manages the network of the eponymous payments system developed by Facebook. The project was initially backed by major players in the international payments market.
Subsequently, Visa, Mastercard and PayPal withdrew from the participant list due to increased scrutiny of the project by global regulators. The association currently counts 27 members.
Appointed as Libra Association’s general counsel in May 2020, former FinCEN head Robert Werner left the organization after three months on the job due to his unwillingness to relinquish seats on the boards of Deutsche Bank Trust Co. and Deutsche Bank Trust Co. Americas.
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