By now, most people have already realized what a powerful asset Facebook’s Libra coin will be in case it is ever allowed to exist. Because of this, a Taiwanese crypto company called Maicoin has decided to try for a membership at the Libra Association, which will be the validator for Libra.
According to the local media outlets, Maicoin wants to work on the development of the upcoming Libra stablecoin and to operate its own Libra node.
The CEO of the company, Alex Liu, has affirmed that he is confident on Maicoin’s chances. According to him, the company has already reached Facebook and it has argued that the team has the expertise to be a part of the team and that it has over 20 million users.
Another reason for the partnership to be approved is that Maicoin would not need any special permissions to be a part of the project, as it already has everything that it needs.
Facebook is certainly looking at Asian markets for the launch of its token, so more partnerships with local companies would certainly be important. China will certainly not allow Libra and India is very likely to ban the token, too, so looking for strategic partnerships in smaller countries seems like a good idea.
At the moment, Facebook is on its mission to receive permission to launch Libra. The company has been facing several issues in the European Union and the United States. In both places, regulators and lawmakers are pretty scared of how Facebook handles the security of its customers’ data and about the monopoly potential of the project.