Facebook cryptocurrency project first partner list exposure

Facebook partners are located in blockchain, investment institutions, non-profit organizations, shared travel, payment, e-commerce, social media, telecommunications, and a total of 26 institutions.

Earlier, the Wall Street Journal quoted insiders as saying that Facebook has signed up with more than a dozen companies including Visa, MasterCard, PayPal and Uber, which will each invest about $10 million to fund the cryptocurrency that Facebook plans to release next week.

According to people familiar with the matter, the aforementioned Facebook investment group includes financial institutions and e-commerce, who will manage Facebook’s cryptocurrency. The investment is used to create this cryptocurrency linked to a basket of fiat currencies.

Facebook and some partners are still negotiating, and the list of investors may change. At present, even some investment companies are not sure how this stable currency will operate and what role investors will play. Some companies are concerned that the stable currency will be used for money laundering and financing terrorists.

Last week, The Information said that Facebook is recruiting third-party agencies to act as a “node” to verify its cryptocurrency transactions, possibly paying $10 million to third parties; and plans to launch ATMs with its cryptocurrency for users to purchase.

According to TechCrunch, Facebook is scheduled to release a white paper on stable coins linked to a basket of currencies on the 18th of this month. It is intended to be supported by a $1 billion legal currency and collateral for low-risk securities, which users can use to transfer money through Messenger and WhatsApp.

Today, the full list of Facebook cryptocurrency project partners is disclosed by The Block.

The list shows that Facebook partners are located in blockchain, investment institutions, non-profit organizations, shared travel, payment, e-commerce, social media, telecommunications, and a total of 26 institutions.

Including 26 companies or organizations including Coinbase Exchange, well-known investment institution Andreessen Horowitz, non-profit organization Women’s World Bank, shared travel platform Uber, British multinational telecommunications company Vodafone, online travel provider Booking Holdings and Visa.

As the Wall Street Journal recently reported, Facebook’s cryptocurrency will be managed by a consortium called the Libra Association. The funds from the consortium will support Facebook’s stable currency, which will be linked to a basket of currencies.

If successful, Facebook can get $1 billion from the 100 companies it wants to include in the project. It is reported that each of these nodes will also gain a seat as a node operator in the Libra Association and send a representative to the consortium.

The following is a complete list of founding members of the Libra Association, and it is reported that Facebook will officially announce next Tuesday:

Below is a chart of the Facebook Libra Association by industry:

Blockchain

Coinbase – cryptocurrency wallet and trading platform 

BisonTrails – Infrastructure Services. Its platform supports a wide range of functions including stakeout, verification, voting, trading and protection blockchain protocols.

Xapo-crypto currency hosting provider

Anchorage – Managed Services for Digital Assets

E-commerce

Ebay – an e-commerce company that enables consumer-to-consumer and business-to-consumer sales through its website

Mercado Pago (MercadoLibre) – Argentina e-commerce website, incorporated in the United States, with online marketplaces and auctions

Farfetch – Fashion Luxury Online Platform

Investment agency

Andreessen Horowitz – a venture capital firm founded by Marc Andreessen and Ben Horowitz

Union Square Ventures – a venture capital firm based in New York City

Creative Destruction Lab – Seed Stage Plan for a scalable, science-based company

Ribbit Capital – a venture capital firm that invests in early companies

Thrive Capital – a venture capital firm focused on Internet and software investments

Non-profit organizations

Women’s World Bank – a network of 40 independent microfinance institutions and banks that provide support to entrepreneurs in less developed countries, with a focus on women

Kiva-501 non-profit organization that allows users to lend to low-income entrepreneurs in more than 80 countries through their platform

Mercy Corps – Global Humanitarian Aid, providing economic, environmental, social and political support to disaster-affected areas

Pay

Visa-Payment Technology

Stripe-technology company, companies can send and receive payments over the Internet

PayPal – Operating Global Payment System

PayU – assists online business in accepting and processing payments

MasterCard – Global Payment Provider

Sharing travel

Lyft-share travel company

Uber – shared ride platform

social media

Facebook (Calibra) – a Facebook subsidiary created for Libra

telecommunications

Vodafone – British multinational telecommunications company

Illiad-France Telecom Service Provider

Booking Holdings – Online Travel Service Provider

Source: Chain Got

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