Japanese financial giant Monex may join facebook libra
Monex Group, the Japan-based financial services company that also owns cryptocurrency exchange Coincheck, has submitted an application to join Facebook’s Libra project. According to reports the Libra Association will be reviewing the group’s application at the end of the summer. The application process involves Monex to shell out up to $10 million to get the permission of managing nodes for the coin. If approved, Monex will be added to the list of other tentative partners including Visa, Mastercard, Uber, and eBay.
The news was announced by Monex president Oki Matsumoto at a meeting. Monex will make a final decision on whether or not to join the Libra after that.
Reportedly there are many tech giant’s firm hovering as the partners of Facebook’s crypto project Earlier this week, Visa CEO Alfred F. Kelly, Jr. confirmed that 28 companies are in line to become the partner of Facebook, however none of them are official partners yet, but have signed non-binding letters of agreement.