Japan's financial behemoth Monex Group applies to join Facebook’s Libra

  • Monex Group publicly stated the interested during its second-quarter report meeting on Friday.
  • Monex Group believes Libra offers “various possibilities,” including financial inclusion.

Amid the heated regulatory debate surrounding Libra, the digital currency proposed by Facebook Inc., Japan’s financial services provider Monex Group has applied to join the project.

The financial giant publicly stated the interested during its second-quarter report meeting on Friday. According to CoinDesk Japan, Monex Group is looking forward to joining other Libra partners. Facebook during the release of the white paper in June said that it had partnered with Visa, MasterCard, Uber, eBay among others.

The requirement to join the project is a whopping $10 million. Being a Libra partner, companies get to participate in the management and future development of the project. Excluding Monex Group Facebook already has 28 partners who have signed nonbinding letters of agreement. Besides, the CEO of Visa Alfred F. Kelly, Jr. said earlier this week said that none of the members were official partners.

Monex Group application will be reviewed towards the end of this summer. The financial giant already believes that Libra offers “various possibilities,” including financial inclusion, banking the unbanked and enabling the international retail sector.

Read MoreMark Zuckerberg: Facebook Inc. must on board regulators before Libra’s launch

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