As the news had actually been revolving in the market for a while now that Facebook, in order to execute its crypto projects is looking for strong supporters in the market.
Well Not Anymore.
As per the sources, the firm has now successfully been able to secure a prodigious support form not just a few but dozens of players in the crypto market as well as the blockchain sector out there. June 14th witnessed the announcement of the overall roster by the technology-focused media outlet the Block.
According to the news that broke out yesterday, Facebook has been able to secure a strong backing from over a dozen of firms which include Visa, Mastercard, PayPal as well as Uber When brought together, this whole group of investors will be called Libra Association. The other giants involved in the Libra Association are Vodafone, Kiva, VISA, Ebay, Spotify, Facebook, Bison Trails, Coinbase, PayU, PayPal, UBER, FarFetch, Creative, Mercy Corps, etc.
While all these seem pretty normal and on track, there have been some inside news, that came across from a familiar source. As per the source, The company won’t stop here as it aims to attract 100 members in the governing consortium. Now it is firmly believed that if everything remains on track as per the plan, Facebook will undoubtedly be able to secure $1billion from the 100 participants. This is so because of the charging rules imposed by Facebook, i.e, $10 million each member.