In spite of the growing hostility on the part of the governments of the world against Libra. The Libra Association, the group of companies united to carry out the project, continues to incorporate new members. This time including Tagomi, a cryptocurrency broker based in New York.
Libra resists blows
The announcement in the middle of last year of the future launch of the virtual currency of Facebook, Libra, set off alarms in the main governments of the world. Which began to see their dominance over the threatened money market, for a currency that promises to have the support of several of the world’s leading companies.
Therefore, the attitude of governments has been, in general, of frank hostility towards Libra. Denying in most cases, and directly, the possibility of the operation of the currency in its territory. When not developing parallel initiatives that can compete with the virtual currency of Facebook.
This has generated uneasiness in the Libra Association, the group that brings together the companies and organizations responsible for the development of Libra. And which, has suffered significant casualties in recent months, due to the departure of several companies. Those who have decided to abandon the project in the face of pressure from world governments. The most popular cases being Mastercard and PayPal.
Libra continues despite everything
However, these setbacks do not seem to have taken a toll on Facebook’s determination to move the project forward. Quickly announcing new additions to the Libra Association, which would replace the companies that decided to leave it.
Among which, Tagomi would occupy a special place. Well, although the New York-based cryptocurrency broker will contribute only $ 10 million to the Libra reserve fund. His main collaboration for the development of Libra is in his experience in the operation of the crypto market.
And, Tagomi has one of the broadest licenses for performing financial transactions with cryptocurrencies in the State of New York. In addition to working hand in hand with several of the most important companies in the crypto world, including Galaxy Digital, Panther, and Electric Capital.
All of which, not only would provide important support to Libra in its process of market launch as virtual currency. But it could be a means to demonstrate to the US authorities the seriousness and transparency of the project. By including a company that is already regulated by the American authorities, such as Tagomi.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.