Libra Association project: the Monex Group also wants to join the collective

After the declaration made by the twins Winklevloss who recently revealed plans to join the new Libra Association, too the Japanese company Monex Group has decided to move in the same direction.

The Libra Association is the consortium of members who can join the fate of Libra, for this reason several companies are approaching the project including the Monex Group. This Japanese company was founded in 1999 with headquarters in Tokyo and also owns the Coincheck cryptocurrency exchange. 

During the assembly to evaluate the results of Q2 in 2019, the Monex Group together with its partners evaluated the idea of ​​joining the collective of founding members of Libra. It seems that it was President Oki Matsumoto who announced the desire to bring his company within the Libra project, together with other giants who have already shown their interest as: Uber, Mastercard, Visa, Ebay and 24 other partners. 

President Matsumoto he stated that the application will be asked for a review before the summer ends, and the company will make a decision thereafter. In his opinion however Libra has potential and stated that the companies involved are very important. 

But at the moment, how many Libra partners are there? The Libra Association is looking for other founding members, the goal would be to reach 100, and each member would have to pay at least $ 10 million to join. At the moment it seems that about 28 companies have joined, but as mentioned by the CEO of Visa, Kelly, the partners are still not official. Alfred Kelly has specified that a letter of intent has been signed which however does not bind in any way the company to join the Libra association. 

So right now, says Kelly, we signed a non-binding letter of intent, but we have not officially joined the project, membership in fact depends on several factors, including also the ability to meet the various regulatory requirements that have been requested by the various regulators. 

The relationship with the regulators it is very important, for this reason before creating Libra, Zuckerberg said that they will deal with these for as long as necessary, trying not to undermine the stability of the financial system.