Tagomi, a crypto prime broker based in New York, will join the Libra Association, the governing body of a stable under Facebook. Tagomi was founded by Jennifer Campbell in 2018, a former associate of Union Square Ventures.
Tagomi will become the 22nd member of the Libra Association. Members of the association are expected to contribute at least $10 million to Libra Reserve, which holds assets supporting cryptokurrency.
To date, Tagomi has raised $28 million, a large sum for a two-year start-up. It should be noted that some of the biggest names in cryptokurrency are listed as clients on the company website: Galaxy Digital, Pantera and Electric Capital, among others. Tagomi's value proposition on its website is simple: "Executing large orders from digital assets is really difficult. Tagomi makes it simple."
In addition, Tagomi holds one of the highly desirable BitLicences issued by the New York State Department of Financial Services, which allows him to serve the people of New York.
The Libra Association has recently appeared in the news for all the wrong reasons - many of its original supporters are abandoning the project, fearing regulatory pressure from the US government. The list of deserters includes Vodafone, Visa, Mastercard, Stripe, PayPal and eBay.
As far as Tagomi is concerned, a stable trunk supported by Facebook could be a useful tool that would reduce his need for fiat gateway.
