Libra Association Members Migrate to Rival Project – Business Partnerships

Some members of the Libra Association, the entity behind the Libra Project, switched sides recently. They are now supporting a rival project named Celo Dollar.

Based on reports, the Celo Alliance for Prosperity project announced its partners and they include some Libra Association supporters such as Anchorage. As well as, Bison Trails Co., Coinbase Ventures, Andreessen Horowitz and Mercy Corps.

The Celo Alliance for Prosperity project claims it’s designed to deliver humanitarian aid. Alongside facilitating payments and enabling microlending through a cryptocurrency called the Celo Dollar, which is slated to launch sometime next month.

The decision by these organizations to support the Celo Alliance for Prosperity project doesn’t come as a surprise. Due to the fact that by backing Celo, some of Libra’s remaining members essentially hedge their bets.

Diogo Monica, President of Anchorage said in a statement: “Celo and Libra each have unique focuses and approaches. But they share a…