Singapore state-owned company joins Facebook's cryptocurrency project

Singapore's state-owned investment company Temasek Holdings joined a Libra association set up by Facebook to launch a single cryptocurrency. This is reported by Nikkei Asian Review. Temasek noted that the underlying technology of crypto blockchain can create new opportunities for business and seriously change existing electronic payment networks. Our participation in the Libra association will contribute to the creation of a regulated global network for cost-effective retail payments, commented in the Singapore state company. Facebook has unveiled plans to launch its own cryptocurrency in the summer of 2019. To this end, Libra was established, which included more than 20 financial and information technology companies. Later, due to criticism from the governments of a number of countries, including France and Switzerland, the companies operating large payment systems Visa, MasterCard and PayPal withdrew from the association. As previously reported by the news agency, in December 2019 the President of Switzerland Uli Maurer