A view over Sheldon Adelson’s Marina Bay Sands casino looking toward Singapore’s downtown financial centre and shipping ports.

Two months ago, Temasek Holdings joined the Libra Association, the independent, not-for-profit Facebook created to oversee its Libra payment network.

It was added to bring “legitimacy” to the project after Visa, MasterCard, Stripe, PayPal and others backed out.

Temasek is owned by the Singapore government and manages the country’s $313 billion sovereign wealth fund. It invests in hundreds of companies and hedge funds…