Temasek Holdings, a Singapore-based state investment company, has joined Facebook's Libra cryptocurrency project.
Temasek said it was joining the Swiss-based Libra Association to facilitate the development of the cryptocurrency to explore its advanced use. The Singapore company is one of the world's largest institutional investors, with a net portfolio valued at 313 billion Singapore dollars (USD 220 billion), 66% of them allocated in Asia as of March 2019, according to Asia Nikkei.
Among Temasek’s major holdings are a 29% stake in DBS Group Holdings, Standard Chartered (16%), Singapore Telecommunications (52%), Singapore Airlines (56%), and Singapore Technologies Engineering (51%).
Temasek became one of the three new members of the association, along with venture capital Slow Ventures and a crypto investment company called Paradigm, both US companies.
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