Libra states 180 possible replacements for 7 mutineers

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Libra logo surrounded by MNCs logo I iTMunch

Despite high-profile failures from Visa, Stripe, and more, the Facebook-led cryptocurrency Libra Association published that 1,500 organizations have shown interest in joining the Libra project. 

One hundred eighty of those fit the eligibility qualifications to become members, which can replace the 7 companies that left the Association this month.

Including Kayak, owner of Bookings Holdings now.

This new growth of possible recruits could support the Libra Association to reach its 100-member goal ahead of a scheduled 2020 launch. This accomplishment was previously expecting a delay due to intense regulatory pushback.

This announcement came out of the initial official meeting of the Libra Association held in Geneva, Switzerland. 

Information About The Board of Directors

The team elected its board of directors:

Facebook’s head of its cryptocurrency Calibra unit David Marcus, Andreessen Horowitz’s Katie Haun, Xapo’s Wences Cesares, Kiva Microsystems’ Matthew Davie, and PayU’s Patrick Ellis. 

Marcus’ addition should be no shock given he has been the familiar face of Libra.

Even though his previous company PayPal dropped out of the Association. 

Marcus writes that he is honoured to have been chosen.

Another recent PayPal’er Bertrand Perez was formally elected the Libra Association’s COO and Interim Managing Director after unofficially taking these titles. 

The previous senior director of payments engineering at PayPal is presently also the chairperson of Libra’s five-member committee and full-membership council. 

Libra’s head of information and policy Dante Disparte earlier of Risk Cooperative and administrator of business development Kurt Hemecker previously of Zong had their roles verified too.

The left Libra Association members listed below confirmed the Libra charter. 

Libra bitcoin | iTMunch

Details of the Libra Organization

They have accepted that members can leave for any reason, and with some limitations transfer their membership plus $10 million in Libra Investment Tokens stake to a different suitable organization.

  • Payments: PayU 
  • Technology and marketplaces: Facebook, Lyft, Spotify AB, Farfetch, Uber Technologies, Inc.
  • Telecommunications: Vodafone Group, Iliad
  • Blockchain: Anchorage, Coinbase, Inc., Bison Trails, Xapo Holdings Limited
  • Venture Capital: Breakthrough Initiatives, Andreessen Horowitz, 
  •  Ribbit Capital, Thrive Capital, Union Square Ventures
  • Nonprofit and multilateral organizations, and educational institutions: Kiva, Mercy Corps, Creative Destruction Lab, Women’s World Banking
  • No Longer Members: Visa, PayPal, Stripe, Mastercard,
  • Booking Holdings, eBay, Mercado Pago

The Association did not declare any shifts in strategy or other plans that could help the organization satisfy regulators’ fears. 

That might ease concerns about Libra probably competing directly with the US dollar.

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