Monex Group Interested in Joining Facebook’s Libra Consortium | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Oki Matsumoto, President of Monex Group, a Japan-based financial services company backing the Coincheck cryptocurrency exchange, is interested in participating in Facebook’s Libra cryptocurrency project and has submitted an application to that effect, according to a Reuters Japan report on July 26, 2019.
Monex Group’s Application to Join Libra Project
Per the report, Monex Group, a highly reputed Japanese financial services company is the latest firm that has shown interest in joining the Libra Consortium.
At a time when it appears the entire world is against Facebook and its Libra cryptocurrency, Oki Matsumoto the President of Monex Group has submitted an application that could possibly see the company become a part of the heavyweights backing the Libra stablecoin project.
Reportedly, Monex Group’s president will announce the company’s application submission in a closed meeting on July 26, 2019, in order to brief stakeholders of its plan to join Facebook and 28 other companies that are members of the Libra Association.
If all goes as planned, Libra Association, the non-profit organization overseeing Libra will review Monex Group’s application around September 2019 or earlier.
Libra Transforming the Internet of Money
Matsumoto while making comments said Libra offers several possibilities and that includes its potential for financial inclusion and cross-border product sales which will be accessible to people who find it difficult to obtain loans due to poverty.
Since the organizers of Libra released the Libra whitepaper earlier in June,