Singapore’s Temasek Holdings has joined the Facebook-backed Libra project seeking to create a worldwide digital payments network, the Swiss-based Libra Association.
The association’s two other new members are cryptocurrency investment firm Paradigm and the private equity group Slow Ventures, which are both based in the United States.
“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,” said Libra Association vice chairman and head of policy and communications Dante Disparte in the statement.
Temasek International Deputy Chief Executive Officer Chia Song Hwee said in a statement that the investment firm is working with government agencies and companies to advance the use of blockchain technologies.
“Our participation in the Libra Association as a member will allow us to contribute toward a regulated global network for cost-effective retail payments,” he said. “Many developments in the space excite us. We look forward to further exploring the potential of technology.”
