Tagomi will join the Libra Association along with all the assets held

Tagomi crypto brokerage service will join Libra Association, the organization that manages the stable cryptocurrency proposed by Facebook. The association currently has 22 members, after the Shopify e-commerce platform joined last week.

Tagomi was founded in 2018 in New York by Jennifer Campbell, a former associate at Union Square Ventures. According to TechCrunch, the official announcement will be made next week.

Members of the association must contribute at least $ 10 million to the Libra reserve, which is the basis of stable cryptocurrency. The Tagomi brokerage service is currently valued at $ 28 million, which means that the commitment of $ 10 million is a significant sum for a company established just two years ago.

The broker’s most important clients include Galaxy Digital, Pantera and Electric Capital, among others. According to the Tagomi site, his commitment is:

“Executing large orders for digital assets is very difficult. Tagomi simplifies ”.

Tagomi will join the Libra Association – BitLicense owns

One of the most important advantages that Tagomi offers for the Libra Association is that it has a BitLicense. This allows it to serve New York residents and is quite difficult to obtain for crypto companies.

The Libra project has been under pressure from regulators around the world since it was announced by Facebook in June 2019. This attitude has caused a number of important members such as Mastercard, Visa and Stripe to withdraw from the project.

Last month, VoDafone also announced that it would relinquish Libra to focus on its own money transfer system called M-Pesa.

Earlier this February, the European Commission’s Executive Vice President, Valdis Dombrovskis, said the Libra project “did not provide enough details.” He argued that the EU intends to ensure that this cryptocurrency will comply with the relevant laws and regulations once it is launched.