Facebook Libra’s first digital coin arriving in January: Report

7

New Delhi, Nov 27 | The Libra Association, which manages Facebook’s cryptocurrency project, will launch a single coin backed by one dollar as early as January, The Financial Times reported on Friday.

The Libra Association would launch other currencies and a “digital composite” of all of its coins at a later date.

However, according to critics, moving to single-currency coins “could result in additional costs for currency conversion”, undermining the project’s goal of greater financial inclusion.

Facebook and 20 partner organisations formally joined the digital currency project during a meeting in Geneva in October last year.

In a move to win regulators’ hearts, The Libra Association in April announced that its cryptocurrency will offer stable coins backed by just one nation’s currency, meaning some coins offered would serve as the equivalent value of a dollar or a Euro.

In a white paper, The Libra Association took a scaled-down approach to woo its critics, saying that Libra will focus on building a payment network in which coins are tied to a variety of local currencies.

Earlier this week, The Libra Association introduced Saumya Bhavsar as the new general counsel of Libra Networks.

Libra Networks will manage the operations of the licensed Libra payment system.

“I am thrilled to be joining the Libra Association as it progresses toward enabling a more inclusive global financial system,” said Bhavsar.

She recently served as Managing Director, Global Head of Regulatory Affairs and Group Head of Data Protection Office at Credit Suisse.

“Saumya is a strategic leader with demonstrated ability and success in legal, regulatory and operational roles in one of the most highly-regulated industries,” said James Emmett, Managing Director of Libra Networks.

Last year, several heavyweights pulled out of the Libra project, like PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe and Booking Holdings and Vodafone over privacy concerns.

Source: IANS

Sponsors Posts

1BHK Flats in Jabalpur for sale at budget price ?

1BHK Flats in Jabalpur for sale at budget price ?

Approximate 200+ 1BHK apartments or flats in Jabalpur available for sale at budget price

As per available data with BhaskarProperty.com approximate 200+ 1BHK Residential Flats for Sale in Jabalpur at a very low price. This is the right time for small property buyer to grab new property in Jabalpur with multiple benefits.

At this time Builder and Developer in Jabalpur also target to the maximum sale before the end of year. Also banks are giving low rate loan for housing. The 1BHK Flats for sale at multiple prime residential location in Jabalpur are available.

1BHK apartment’s starting price in Jabalpur is 12.0 Lac*

Some of the Real Estate Developer in Jabalpur are offering 1BHK Flat at Just 12.0 Lac (Starting Price) with multiple benefits like lift, parking, 24×7 water, CCTV and many more.

You can find more details about these from bhaskarproperty.com a Jabalpur Real Estate Website.

Most preferred residential location in Jabalpur

The most preferred residential locations in Jabalpur are Civil Lines, Vijay Nagar, Kachnar City, Napier Town, Wright Town, Lekha Nagar, Sadar, Sneh Nagar, Hathital and many more.

BhaskarProperty.com is the best property portal for Jabalpur Real Estate market

The Bhaskar Property (bhaskarproperty.com) have property’s photos, video, walkthrough, location map and property browser with information. Also they provide the direct contact details of property owner and agent to whom a property buyer can directly contact.

Don’t forget to visit bhaskarproperty.com now.

LEAVE A REPLY

Please enter your comment!
Please enter your name here