Heifer International, a global non-profit organization working to eradicate hunger, has become the latest member of the Libra Association.
Announced on Monday, the United States-based nonprofit has become part of Facebook's digital currency project as it believes it will provide financial inclusion to the 1.7 billion unbanked adults.
The Libra Association is an independent member organization developing a blockchain-based payment system that will support financial inclusion, competition and responsible innovation in financial services.
The mission of the Libra Association is to enable a simple global payment system and financial infrastructure that enables billions of people worldwide, ”says the official announcement.
Heifer became the first non-profit organization to join the Swiss organization after to update recently the technical document of Libra, giving a twist to the initial proposal of the digital currency.
Originally formed with 28 members, the Libra Association has seen an exodus of eight major payments and tech giants, including Visa, Mastercard, Paypal, eBay, Vodafone, and Stripe.
However, apart from the recent incorporation, two other companies, Shopify and Tagomi, joined the consortium to support the development of Libra. With this, the Libra Association now has 23 members, including Facebook.
“We believe that the Libra project has the potential to offer a lower cost, more accessible and more connected global financial system. One that will allow people who currently do not have access to the financial system to connect to a more reliable and profitable platform, "added Heifer.
Meanwhile, Facebook is reinforcing its efforts to develop Libra this time, and it's done. in the process of hiring 50 employees in Ireland for Calibra, the subsidiary responsible for developing the Libra wallet.