Crypto
Prime Broker Tagomi to Join Libra Association
Tagomi, a crypto prime broker
that has raised $28 million in funding, is set to become the newest member of
the Facebook-led Libra Association. Tagomi offers its users – large traders
and funds – easy access to cryptocurrency markets.
To join the Libra Association
Tagomi will be expected to contribute at least $10 million to developing the
cryptocurrency, although the money is eligible to reap dividends from
interest earned on funds kept in the Libra Reserve. It will also have to
operate node that validate transactions for the Libra cryptocurrency.
The crypto prime broker was
founded by Jennifer Campbell, and has 25 employees working across five
offices. It will be the 22nd member of the Libra Association, as it’s joining
shortly after e-commerce giant Shopify joined as well.
Out of its founding members,
several have left the Association – including Visa, MasterCard, and PayPal –
over concerns surrounding the cryptocurrency and over regulatory scrutiny.
Speaking to TechCrunch, a Tagomi spokesperson confirmed it will join the
Libra Association.
