INSUBCONTINENT EXCLUSIVE:
A Technology News Room has learned that $28 million-funded crypto startup Tagomi will be the newest member of the Libra Association that
governs the Facebook-backed Libra stablecoin
A formal announcement is slated for Friday or next week.Tagomi offers a platform that helps large traders and funds easily access
The news comes days after Libra added Shopify, a reversal of dwindling membership after major partners like Visa, PayPal and Stripe dropped
Libra means Tagomi will be expected to contribute at least $10 million toward developing the cryptocurrency, with that investment eligible
to reap dividends from interest earned on money kept in the Libra Reserve
Tagomi will also operate a node that validates transactions coming through the Libra blockchain.Tagomi was founded by Jennifer Campbell, a
former investor at Union Square Ventures, which is also a Libra Association Member
The company has 25 employees across five offices
apparently supposed to hold this news until later
in an effort to make the cryptocurrency more safe and compliant with international law
That will be critical for the Libra Association to get the green light from regulators for a launch in 2020 like it originally planned
Lawmakers in the United States and EU have slammed Libra in hearings and the press over its potential to facilitate money laundering, harm
Tagomi, Shopify, PayU, Farfetch, Lyft, Spotify, Uber, Illiad SA, Anchorage, Bison Trails, Coinbase, Xapo, Andreessen Horowitz, Union Square
Banking.Former Members:Vodafone, Visa, Mastercard, Stripe, PayPal, Mercado Pago, Bookings Holdings, eBay.
