Monex Group Plans to Join Libra Cryptocurrency Project

The Japanese company Monex Group, owner of the Coincheck cryptocurrency exchange, has applied for participation in the Libra project being developed by Facebook.

Monex Group president Oki Matsumoto announced his intention to join the Libra cryptocurrency project along with other prospective Facebook partners. Companies need to make a deposit of $ 10 million in order to become part of the consortium managing Libra.

Note that earlier this week, Visa CEO Alfred F. Kelly, Jr. (Alfred F. Kelly, Jr.) confirmed that 28 of the proposed project participants are not yet official partners of Facebook, although they have signed non-binding agreements.

Matsumoto said that the Monex Group application will pass the initial review at the end of the summer, after which the company will make a final decision on whether to join Libra. He also noted that some large companies are already involved in the project and that Libra has great potential.

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The head of the Monex Group clarified that Libra offers “various opportunities,” such as providing broad access to financial services to people who have difficulty obtaining banking services, as well as international sales.

Since the announcement of the plans to launch Libra, Facebook has been faced with active opposition from regulators. Facebook CEO Mark Zuckerberg said this week that the company is ready to resolve any disagreements with regulators about the release of steyblecoin.