Is Binance Joining Facebook’s Libra?
Facebook recently unveiled its new cryptocurrency, Libra. The plan is to launch it in 2020.
With over 2.5 billion users, it’s pretty big news. I’ve been writing about it a bunch, with the last article here.
Today, news on Binance and more push back from regulators.
According to the reports, Binance Chief Security Officer Gin Chao said the company is in early discussions with Facebook to potentially list Libra.
As the world’s most popular crypto exchange, that would be big news for both Facebook and Binance.
Further, it’s rumored Binance may support the Libra blockchain by acting as a permissioned node that validates transactions.
At $10 million a node, its not cheap, but that wouldn’t be a problem for Binance.
In other news, another regulatory agency wants to give Libra some scrutiny.
Bloomberg reported that the Monetary Authority of Singapore, the country’s central bank, is in talks with Facebook and sees significant obstacles in the way of the project.
It’ll be interesting to see if Facebook’s Libra gets stymied by regulators.
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