Despite the departure of big names from Libra Association, Facebook has finally stepped up with the 21 members who have signed the Libra Association charter.
21 initial members of Libra Association
The abrupt exit of few high-profile companies from the Facebook-led Libra before it’s even gotten off the ground was a big blow to Facebook and the Libra Association, but it didn’t stop Facebook to move forward with Libra. In fact, very recently, Facebook has officially formalized the consortium’s executive team in Geneva, Switzerland. Facebook’s Libra in its official announcement wrote;
Geneva, 15 October 2019 – Today, the 21 initial members of the Libra Association formally signed onto the Libra Association charter, formalized the Libra Association council, elected the Board of Directors, and appointed members of the Libra Association executive team.
As Visionary Finance reported, Visa, Mastercard, Stripe, eBay, PayPal were the big companies that announced their withdrawals from Libra and later Mercado Pago and Booking Holdings also followed the suit. Henceforth, the association is now broken out from 28 to 23 and then 23 to 21. However, as per the official press release, below are the 21 initial members who have successfully signed onto the Libra Association Charter;
- Anchorage
- Mercy Corps
- Andreessen Horowitz
- PayU
- Bison Trails Co.
- Ribbit Capital
- Breakthrough Initiatives, L.P.
- Spotify AB
- Calibra, Inc.
- Thrive Capital
- Coinbase, Inc.
- Uber Technologies, Inc.
- Creative Destruction Lab
- Union Square Ventures
- Farfetch UK Limited
- Vodafone
- Iliad
- Women’s World Banking
- Kiva Microfunds
- Xapo Holdings Limited
- Lyft, Inc
What is Libra Council?
Libra Council is the body undertaking the governance of the Libra Association and by signing onto the Libra charter, the above 21 organizations have now become the initial members of Libra Council. According to the release, the Libra Council also finalized five board of directors which includes individuals from Kiva Microfunds, PayU, Andressen Horowitz, Calibra Inc., and Xapo Holdings. More so, the board then appointed the staff for Libra Association following the voting procedure and appointed Bertrand Perez as Chief Operating Officer and Interim Managing Director; Dante Disparte as Head of Policy and Communications; and Kurt Hemecker as Head of Business Development”.
Moving forward, the Association further unveiled that they have received over 1500 entities, expressing the keen interest of joining the Libra Associations, with 180 entities fits in Association’s membership criteria. Not to forget, Facebook previously said a consortium of 100 companies will back the Libra at its launch. At the moment, the giant has not specifically mentioned the date of launch but the Facebook chairman, Mark Zuckerberg will testify Libra before a congressional committee on October 23.
Image Source – Twitter @_Libra
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