Among the many interesting things that keep happening on a daily basis in the crypto industry, this piece has grabbed all the attention. According to the latest reports, Binance and Facebook are in touch with respect to Facebook’s much-awaited digital currency known as Libra.
Gin Chao, the Chief Strategy Officer of Binance, revealed that the talks with the social networking giant about Libra are on, but they are very much in the early stage. Chao also suggested that the exchange might be considering to list the crypto Libra in the future. The talks, however, both the entities have had for now revolve around “dealing with the infrastructure.” Chao expressed these thoughts on 27th June 2019 during the FinTech Junction Conference held in Tel Aviv.
In order to throw more light on the update, Chao stated that Facebook isn’t looking to list its digital currency externally at present as it is going to be launched on the private chain. But post the launch, the company may look for a secondary market because currencies do derive benefits from secondary markets. Hence, wanting to be listed will be in the firm’s best interests, said Chao.
Chao also opined that Binance wouldn’t be the only crypto exchange interested to list Facebook’s Libra, there would be other exchanges as well. After all, such a move would only translate into mutual interests, benefits, and growth. He added saying if Facebook opts to be on the public blockchain and get the kind of adoption they could, then Binance would possibly like to list them.
In addition, the Chief Strategy Officer also indicated that the biggest crypto exchange in the world by trading volume is definitely contemplating to become Libra’s validator node. As per Chao, it is a good sign for the entire crypto industry that a company like Facebook is venturing into the blockchain and digital currency space, regardless of whether Libra succeeds or not. Moreover, the company taking a global approach with its crypto Libra is also a great thing for cryptocurrency adoption as a whole.
Apart from that, there is also a buzz that Libra wallets will also be enabled soon on Binance. However, no official confirmations or announcements have been made yet in that direction.
— CryptOrca (@CryptOrca) June 28, 2019