Binance CEO Changpeng “CZ” Zhao announced that they are preparing for launching fiat options, including the Russian ruble.
The fear for many authorities is that Facebook’s Libra could heavily disrupt the financial system and potentially enable illicit activities like money laundering or terrorist financing.
Libra’s interim managing director is quite sure the team will reach its goal of a hundred members by next year.
Though some giants left Libra, the Association claims that it has nearly 1500 potential candidates to join. And 180 of them meet its strict requirements.
Director, Digital Assets Strategy at VanEck, Gabor Gurbacs, believes that companies are being enforced to leave the crypto-project.
Mastercard, Visa, eBay, Stripe and Mercado Pago have all pulled out of the Facebook-led Libra Association following PayPal, which pulled its own support of the project earlier this week.
Facebook CEO Mark Zuckerberg is set to testify before the Financial Services Committee of the United States Congress later this month.
Announced at Ethereum Foundation’s Devcon 5 conference, OpenLibra is described as an “open platform for financial inclusion,” with a telling tagline: “Not run by Facebook.”
After trying at a similar endeavor and failing in December last year, Robinhood has announced a feature that promises users returns on their uninvested funds. The new feature is now also fully insured with over $1 million.
Investors can bet on Libra’s launch on the CoinFLEX platform. The firm offers derivatives that let traders buy into futures to be delivered in Libra tokens.