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Facebook’s cryptocurrency partners revealed—we obtained the entire list of inaugural backers - The Block

Facebook’s cryptocurrency partners revealed—we obtained the entire list of inaugural backers - The Block

June 14th, 2019|Tags: , |

On Friday June 14, 2019, FintechFrank at The Block wrote:
Facebook has been quietly building out its cryptocurrency for over a year, and it looks like that time has been well spent, enlisting the support of some of the most prominent companies across payments, retail, and technology. As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms …

Facebook has been quietly building out its cryptocurrency for over a year, and it looks like that time has been well spent, enlisting the support of some of the most prominent companies across payments, retail, and technology.

As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms known as the Libra Association, which includes the likes of Visa, Mastercard, and PayPal.But The Block has gotten its hands on consortium marketing materials and can now report dozens of firms not previously known to be involved, including investors such as Andreessen Horowitz and Union Square Ventures, cryptocurrency exchange Coinbase, and non-profits including Mercy Corps.Mercy Corps – global humanitarian aid organization that provides support to regions hit by disasters, whether they be economic, environmental, social or political

About the Author:

The latest Tweets from Frank Chaparro (@fintechfrank). Senior Correspondent at @TheBlock__; a convivial gentleman; formerly @wfuv, @nasdaq, @businessinsider. Bronx, NY You can find more of FintechFrank's content at twitter.com. FintechFrank has recently written 2 articles on similar topics including facebook:
  • "Facebook’s much-anticipated cryptocurrency project, more than a year in the making, will be unveiled early next week. Facebook and the dozens of partners who The Block identified earlier today will introduce the Libra Association, based in Geneva, which will oversee Libra, “a simple global currency and financial infrastructure” meant to reach billions of people.  According …". (June 15, 2019)
  • "Outside of anonymously-sourced reports in financial-media, very little concrete information is out there about Facebook’s secretive cryptocurrency project.  Thursday evening, The Wall Street Journal dropped a bombshell report about the social media company’s efforts in blockchain, specifically that it is working on a building a full payments network and is in discussions with payment networks …". (May 3, 2019)