SINGAPORE (Reuters) – Singapore state investor Temasek Holdings has joined the Facebook-backed Libra digital currency project which has faced intense scrutiny from global regulators worried its launch could erode national control over money.
FILE PHOTO: A 3D-printed Facebook logo and representations of cryptocurrency are standing on a motherboard in this picture illustration taken April 17, 2020. REUTERS/Dado Ruvic/Illustration
The entry of Temasek, which latest figures show has a portfolio value of just over S$300 billion ($210 billion), was announced by the Switzerland-based Libra Association, the entity managing the digital currency project, late Thursday.
Temasek becomes one the project’s most prominent backers after payments giants Mastercard, Visa Inc and PayPal earlier ditched the scheme.
Libra, which also added cryptocurrency investor Paradigm and private equity firm Slow Ventures to its roster, said Temasek offered a “differentiated position” as an Asia-focused…
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