The Libra Association, an independent membership organization, headquartered in Geneva, Switzerland, has added three new member to its governance.
According to an announcement published on Thursday, May 14th, Temasek, Paradigm and Slow Ventures are three newest members to join the Libra Association. The association said:
“The design of a blockchain-based payment system that supports responsible financial services innovation and inclusion for billions of people requires a diverse set of members in different industries, geographies and sectors to help catalyse development over the long term.”
Temasek Holdings, founded in 1974, is a global investment company headquartered in Singapore, owned by the Government of Singapore. The company portfolio spans a broad spectrum of industries that include financial services, telecommunications, media & technology, consumer & real estate, and more.
According to the Libra Association, Temasek brings a differentiated position as an Asia-focused investor and sees innovative technologies like Blockchain “as transformative enablers of growth.”
Paradigm and Slow Ventures add to the Association’s membership of investment funds. Paradigm, a crypto-focused investment firm based in San Francisco. The company has made investments in crypto assets and businesses from the earliest stages of idea formation through to maturity.
The involvement of Paradigm in crypto and blockchain space has been reported many times. As Crypto Economy reported, in March 2020, Argent, a London-based cryptocurrency wallet has raised $12 million in series A funding led by Paradigm. In December last year, the MakerDAO Foundation sold $27.5 worth of MKR tokens to Dragonfly Capital Partners and Paradigm Capital aiming to expand to Asia.
Slow Ventures is also a San Francisco-based investment company that invests at the centre of technology and on the edges of science, society, and culture. The platform gives startup founders the resources, connections, experiences, and empathy required to build strong, sustainable companies.
Dante Disparte, Vice Chairman and head of policy and communications for the Libra Association, commented:
“The addition of three new members to the Libra Association shows our commitment to building a diverse group of organizations that will contribute to the governance, technological roadmap and launch readiness for the Libra payment system. We are honoured to welcome Temasek, Paradigm and Slow Ventures to this effort. Each of these organizations shares our overall mission alignment bringing unique capabilities and long term focus on market development for blockchain and digital assets.”
The Libra Association now counts 27 members. The latest addition follows the London-based payments startup Checkout.com which joined the association on April 29, 2020.