Tagomi, an American cryptocurrency broker, has joined the Libra Association, the institution responsible for generating the Libra digital currency project from Facebook's largest social network.
“We're happy to become a member of Libra and share a common mission to expand financial inclusion. We believe that the Libra project will create a simple, comprehensive and global payment system that will improve the position of billions of people who remain outside the global economy,” Tagomi said in a statement.
Tagomi, a Chicago-based company, was founded in 2018 and offers cryptocurrency trading, storage, lending, and staking services to both individual and corporate clients.
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In March 2019, Tagomi received BitLicense - permission to work with New York residents from the State Financial Services Authority (NYDFS). Earlier that month, the company raised $ 12 million in a financing round led by Paradigm hedge fund. Other investors were Pantera Capital, Multicoin Capital, and Four Arrows.
In May 2018, PayPal co-founder and billionaire Pitel Thiel invested in Tagomi through the Founders Fund. Then, Digital Currency Group Barry Silbert, Collaborative Fund, and ZhenFund took part in the financing round. The total investment amounted to about $ 16 million.
At the end of 2019, there were ongoing rumors that the company was acquired for $150 million by the leading US cryptocurrency exchange Coinbase, however, both sides denied this information.