Blockchain startup Libra has introduced a new compliance application for the institutional market, crypto funds, market makers and exchanges. The app is needed to connect to the broader ecosystem of cryptocurrency services and automate the real-time gathering of critical information. This application will be useful in different areas for example the tax, compliance, and risk assessment fields.
Further, we found without the right systems and processes, institutional investors were unwilling to allocate significant investment into the industry.With the introduction of Libra Crypto Office, we hope to continue industry efforts to upgrade information accuracy, transparency, and compliance practices.
Libra has already brought on two companies: market maker XBTO and cryptocurrency exchange service ShapeShift. Libra's offering is one of a growing number of blockchain services being pitched at the institutional crowd, which included hedge funds.