Binance in talks with Facebook on Libra coin
Published On : 2019-06-28 10:59:38
According to Finance Magnates, Binance is in talks with Facebook about an exchange listing and more for the upcoming cryptocurrency Libra.
"Speaking to Finance Magnates at the FinTech Junction Conference in Tel Aviv on Thursday, Gin Chao (CSO Binance) said that the exchange is in early-stage discussions with the social media giant over its nascent Libra cryptocurrency.
We have had an official dialogue with Facebook,” said Chao. “With regarding listings specifically, right now they are going to be on a so-called ‘private chain.’ So that means they won’t be looking for external liquidity
However, from what we understand the potential to be, that would lead them to want a secondary market. Currencies benefit from a secondary market, so it would be in their best interest to want to be listed.”
Binance is one of the largest exchanges in the world, a potential partnership with Libra would benefit the European based exchange greatly as Facebook has a 1.5 biliion+ userbase.
The Libra coin is definitely causing some controversy in the crypto and regulatory world. Not all lawmakers are happy with the "sudden" move towards cryptocurrency from the tech giant. While on the other hand, some crypto enthusiast are cheering on the sidelines hoping for mass adoption of crypto and blockchain.