Tagomi – a cryptocurrency broker based in New York, will join The Libra Association – a management unit of stablecoin led by Facebook. Tagomi was founded by Jennifer Campbell in 2018, a former associate at Union Square Ventures.
Tagomi will become the 22nd member of the Libra Association. Members of the association are required to contribute at least $ 10 million to Libra Reserve – which holds the patronage assets for Libra cryptocurrency.
Tagomi has raised $ 28 million so far, which makes the pledged amount of $ 10 million a huge sum for a startup that's only two years old. It should be noted that some of the biggest names in the crypto space are listed as customers on the Toagomi website: Galaxy Digital, Pantera and Electric Capital, among others. Togomi's value proposition on its website is simple: “Making large orders of digital assets is really difficult. Tagomi makes it simpler. ”
Furthermore, Tagomi holds one of the many coveted BitLicences that many other crypto companies, issued by the New York State Department of Financial Services, allow it to serve U.S. citizens.
Meanwhile, under pressure from the US government, many of Libra's original supporters are leaving the project. List of departing companies includes Vodafone, Visa, Mastercard, Stripe, PayPal and eBay.
For Tagomi, a stablecoin backed by Facebook could be a useful tool to help reduce the need for a fiat port.
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According to CoinTelegraph
Translated by ToiYeuBitcoin