Blockchain Capital joins Facebook’s Libra Association

Written by: Jinia Shawdagor
September 19, 2020
  • Blockchain Capital will bring deep industry insight into the association.
  • Libra Association has also made a series of leadership appointments over the last few months.
  • Blockchain Capital's co-founder also exited UBS’s client group.

Non-profit organization, Libra Association, has welcomed Blockchain Capital as its newest member. According to an official statement by the association on September 18, the investment firm will join the association that is on a mission to build a better global payment system.

Blockchain Capital is in line with the association’s mission to promote innovation in the financial sector. Bart Stephens, the Managing Director of Blockchain Capital, while commenting about the news, stated,

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“We’re honored to join the Libra Association and believe deeply in the mission of creating a more equitable payment system. Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”

Dante Disparte, the vice chairman and head of policy at the association, is also glad that Blockchain Capital is now a member of the powerful association. He stated,

“As a member of the Libra Association, Blockchain Capital brings deep industry insight and a dynamic network of supporters as we work on building a blockchain-based payment system that supports responsible financial services innovation.”

Leadership appointments to Libra Association

Additionally, the association recently announced leadership appointments of various professionals to drive the organization’s goals. James Emmett, a financial services executive, was appointed as the managing director of Libra Networks. In August, Steve Bunnell was appointed the association’s chief legal officer, while Sterling Danes was made the chief compliance officer in June.

About Libra Association

The organization, whose Chief Executive Officer is Stuart Levy, was formed to drive the Libra Project to bring a flexible and straightforward global financial infrastructure to the people. It consists of an independent governance system that includes a board of directors. Members participate in critical decision making about the Libra Network and also run the validator nodes.

About Blockchain Capital

Blockchain Capital is a leading venture firm with over 90 companies in its impressive portfolio. It has over $300 million worth of assets under its management with a team of nine dedicated professionals. As the company joined the Libra Association, its managing partner and co-founder, Bart Stephens, revealed that he had been released from UBS’s client group.