The Facebook-backed payments network won a weighty Singapore backer among several new Asian partners. The project has struggled to keep members on board and reined in its ambitions recently.
The Geneva-based association which governs Libra won three new members: investment funds Paradigm and Slow Ventures as well as one of the sovereign wealth funds of Singapore, Temasek. The fund «brings a differentiated position as an Asia-focused investor,» the Facebook-backed project said.
Temasek is run by Ho Ching, a veteran of Singapore's civil service who is also married to Prime Minister Lee Hsien Loong. Last week, Libra appointed as its CEO Stuart Levey, currently HSBC's legal chief and a veteran of the U.S. Treasury and the Justice Department.
