Is Facebook Forming A Crypto Mafia as Libra Foundation Members Boost Each Other’s Businesses?

It was announced this week that Anchorage, a crypto-native custodian for institutional investors, had raised $40 million in Series B funding. The funding was lead by Blockchain Capital, as well as with participation from Visa.

While it is noteworthy that payment network giant Visa is investing in a young blockchain startup, what is even more intriguing is that both these companies are founding members of a potentially sizeable future business organization – Facebook’s Libra Association.

Anchorage has had an impressive rise to fame, rubbing shoulders with major players in their respective fields thanks to Libra. These include PayPal, Stripe, Mastercard, as well as Spotify, Uber, eBay, and of course, at the head of the table, Facebook.

Now, instead of merely finding themselves in a room with such companies, Anchorage has had a chance to showcase their wares through Libra’s selection of them. It has led to Visa, as well as venture capitalists, and Libra Association founding members, Andreessen Horowitz, biting.

It would be difficult to draw out a timeline of the investment meetings Anchorage has had with Andreessen Horowitz, who led the $17 million Series A investment in January, and now Visa, but there certainly seems to be an overlap with the founding of the Libra Association.

Could it be that Facebook is not only looking to take the cryptocurrency world by storm and inflict its massive influence on digital currency, but it is also planting the seeds of a business mafia that sets the tone in this nascent space?

The right blockchain abilities

Anchorage’s business, devoid of any Libra links and Facebook ties, is still an attractive investment for enterprises looking to utilize the power of crypto in a mainstream manner. Anchorage aims to secure cryptocurrency holdings for institutional investors, but this opens a lot of doors for these institutions to utilize digital currencies in their operations.

Diogo Monica, Co-founder, and President of…

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