Copy link
Increase text size
Decrease text size
Link copied

Crypto prime broker Tagomi joins Facebook’s Libra Association

Image by Alpari Org from Flickr

Thu, 27 Feb 2020, 09:16 am UTC

Crypto prime broker Tagomi has become the 22nd member of the Facebook’s Libra Association.

“Tagomi is joining the Libra Foundation and Jennifer will be the newest member,” Tagomi emailed TechCrunch.

Tagomi was founded by Jennifer Campbell, who was a former investor at Union Square Ventures, also a member of the Libra Association. The company has 25 employees across its five offices. According to the publication, the company was supposed to make the announcement later.

Tagomi confirmed the news on Twitter on Thursday.

“We're excited to become a member of @Libra_, sharing a common mission to expand financial inclusion. We believe the Libra project is poised to create a simple, inclusive, and global payment system that will empower billions of people left out of the global economy,” Tagomi wrote.

According to TechCrunch, as a Libra Association Member, Tagomi is expected to contribute at least $10 million towards developing the cryptocurrency. With the said investment, the broker is eligible to reap dividends from interest earned on money kept in the Libra Reserve. Tagomi will also operate a node verifying the transactions coming through the Libra blockchain.

Also, Campbell and Tagomi will offer technical and policy support to Libra to make cryptocurrency safer and compliant with the law. Libra receives opposition from the lawmakers in the U.S. and Europe due to its potential to facilitate money laundering and destabilize the global financial system.

Facebook’s Libra has been considered a threat to the government because it would be down to “who will have a money issuance prerogative, governments or the private tech companies?” Harro Boven felt that Libra is a challenge to the central banks.

“Libra was a wake-up call for us. Central banks have been challenged to innovate,” Boven said.

Meanwhile, a few days back, Libra announced that the Canadian multinational e-commerce company Shopify has also joined its association.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,292.30 (-0.93%)
  • Ethereum (ETH) $169.16 (-2.25%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $274.11 (+6.23%)
  • Bitcoin SV (BSV) $215.82 (+13.04%)
  • Bitcoin (BTC) $7,292.30 (-0.93%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft