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Libra, Someone is taking manipulation yo a new level. 2/8-15

Libra enlisted the support of the state ...

Libra enlists the backing of Singapore government investment fund
CONTENT

  • Singapore Government Foundation to Support Libra

  • Singapore dollar entered the basket of currencies that provide stablecoin value

  • US remains negative against Calibra

International consortium of news organizations developing transparency standards.

Singapore’s state-owned investment company Temasek officially announced its membership in the Libra Association In June 2019, Facebook announced preparations for the release of the Libra digital currency. The social networking project immediately attracted attention … More. For the first time a corporate project FacebookIn June 2019, Facebook announced preparations for the release of the digital currency Libra. The social network project immediately attracted attention … More was supported by government agencies. Until that time, the governments of most countries insisted on the early closure of the project..

Libra enlisted the support of the state ...

Singapore is ready to invest in Libra

 

Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More Libra, which is to become the main payment instrument within the Calibra blockchain, will be backed by the value of four major fiat currencies – the US dollar, the euro, the Singapore dollar and the British pound sterling. This information appeared a month ago, when representatives of the Libra Association presented an updated development plan for the project, in which they abandoned the ambition to create a global currency that could violate the sovereignty of fiat money. In particular, the document says that the project team has always strived to ensure that the Libra network complements fiat currencies, and not compete with them. One of the main concerns was that the Libra (BLBR) multicurrency coin could hinder monetary sovereignty and monetary policy if the network grows large and the LBR makes a lot of domestic payments. Therefore, it was decided to expand the Libra network by adding monoblock stablecoins to it..

The document cited the same four main fiat currencies as an example. A month after the announcement of a new vector of development, the Singapore State Investment Fund decided to join the ranks of Libra investors and contribute to the development of the project..

“Our participation as a member of the Libra Association will enable us to contribute to the creation of a regulated global network for cost-effective retail payments,” said Chia Son Hwi, Deputy CEO of Temasek.

In addition, it became known that yesterday two investment firms from San Francisco, specializing in cryptocurrencies, joined the Libra project: Paradigm, co-founded by Coinbase veteran Fred Ehrsam, and Slow Ventures. (Coinbase has been a member of Libra since the beginning.) In the three additions, the total number of organizations on the Libra Board of Governors reaches 27.

Libra enlisted the support of the state ...

Such activity gives hope that the project will eventually be launched. We will remind that earlier BeInCrypto reported that the main investors and members of the Association left the Libra project due to the opposition of the US authorities to the launch of the project. At a meeting with congressmen, the head of the committee, Maxine Waters, suggested that Mark Zuckerberg focus on the current problems of Facebook and abandon the idea of ​​creating a libra. According to Ms Waters, in 47 states out of 50 anti-monopoly investigations have been initiated against Zuckerberg’s company. Also, the politician proposed to disband Facebook and make several small organizations instead of one large.

In turn, Zuckerberg noted that a similar project will soon be implemented in China, and this is a huge threat to the leadership of the United States. He noted that if America wants to retain the primacy in the financial race, then the creation of the libra should be supported and the launch of a stablecoin at the state level should be lobbied..

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