Heifer Joins Libra Association

Heifer International, the global non-profit organization that deals with the development of small farming, has become the official 23rd member of the Libra Association. This became known on Monday. The organization joined Libra with the goal of creating a system that will provide accessibility, competition and responsible innovation in financial services.

Heifer CEO and President Pierre FERRARI said in a tweet that:

«Farmers who use local money lenders face high interest rates & loans that can be impossible to pay off, preventing them from building sustainable livelihoods».

Nice!! https://t.co/VrCg3z5Knm

— Lionelbrrrr (@CryptoLionel) April 20, 2020

The Libra Association revised the original vision of the stablecoin project. Significant concessions were made to regulators, concerned about the influence of Libra on global stability and monetary sovereignty. Now Libra is planned to be a series of stablecoins and every coin will be backed with a single currency and cash equivalents. Libra is going to be launched in the period of middle November till the end of this year. It also became known that Libra will hire 50 new employees amid global cuts.

Image courtesy of Cryptoast