Singapore based investment firm Temasek has added their support to the Libra Association; its membership of the Libra Association will allow it “to contribute towards a regulated global network for cost-effective retail payments”, Chia Song Hwee, Temasek’s deputy chief executive said in a statement according to the FT; while initially showing skepticism about the project the Monetary Authority of Singapore said they would monitor the network and those that join it; “The new version of the Libra white paper aims to correct a lot of those issues,” Zennon Kapron, Director of Asia-focused research group Kapronasia, said to the FT, adding it was unlikely that Temasek would join a project the MAS did not approve of. “With Temasek being the first Asian member, it could help cement Singapore as a fintech hub if the project is successful.” Financial Times
