- Crypto startup, Tagomi, would be Libra Association’s newest member following Shopify’s addition to the panel.
- It has been expected that the Tagomi would provide technical and policy support to Libra in an effort to make cryptocurrency safe for use and compliant with international reforms.
One of the crypto companies based out of New York, Tagomi has reportedly announced its plans of joining the Facebook led Libra Association panel after the inclusion of Shopify into the panel. With this, the Libra Association becomes a 22-company team. However, an official declaration is yet to be made regarding the addition.
For the uninitiated, Tagomi offers a platform which enables large traders and funds an easy access to cryptocurrency markets. The company has till date generated a valuation of USD 28 million, making a USD 10 million commitment for two-year-old startup. Furthermore, the company holds one of the highly desired BitLicenses issued by the Department of Financial Services, New York enabling it to serve the country residents.
According to reliable reports, the members of association are predicted to contribute an average of USD 10 million to the Libra Reserve, which manages the assets that back the cryptocurrency.
Under this addition, it has been anticipated that the crypto broker along with Campbell, would offer technical assistance and policy support to Libra Association with an intent of making cryptocurrency safe for use and in adherence with international reforms.
Speculations have been doing rounds stating that the alliance of Campbell and Tagomi would prove to be a crucial one of the Libra Association to receive a green flag from the regulators for 2020 launch as planned earlier. In addition to this, a Facebook supported stablecoin could be extremely useful for Tagomi, given that it would diminish the need for fiat gateway.
The crypto prime broker company, Tagomi has co-founded by Greg Tusar and Jennifer Campbell. It has its electronic trading service for crypto and is also amassing finance across multiple exchanges along with creating trades based on a single order.
Source credit: https://cointelegraph.com/news/crypto-prime-broker-tagomi-to-join-libra-association