Tag Archives: libra project

Place/Date: - November 29th, 2019 at 10:09 am UTC · 5 min read Contact: eToro, Source: eToro Photo: eToroIf Facebook’s Libra project is to succeed it should use stablecoins issued by regulated third parties rather than create its own cryptoassets – that’s the conclusion of a new position paper published by eToro.Libra has come under fire from politicians and regulators in the US, UK and Europe, who are worried by parent company Facebook’s scale and power, as well as its previous track...

Ever since Facebook announced its Libra project in June 2019, it has been knocking the doors of regulators for approval. Over the last few months, the social media giant had a tough time dealing with global regulatory authorities.But this has not deterred Facebook from furthering its development for its native cryptocurrency Project Libra. Last week, the Libra Association released a developer update. The update announcement mentioned that the Libra Project is running for five months and...

Social media giant Facebook Inc. has now decided to consolidate all of its payment services under a single umbrella. On Tuesday, November 12, Facebook announced its Facebook Pay platform which would facilitate ” a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp”.Facebook’s announcement comes just in a week’s time after it announced a new parent company logo as part of its rebranding efforts. The social media giant said that a lot of its...

Photo: ShutterstockWhen Facebook announced it is going with its own cryptocurrency Libra back in June, the CEO of Ripple Labs Inc., a US-based technology company, Brad Garlinghouse, was one of its first open supporters.Actually, he was so thrilled by the whole project and all the ‘fuss’ it had gathered in the crypto community that he decided to send the champagne to the Zuckerberg & Co.Be it as it may, a hard times has come to Libra, even before it actually came to circulation. As we had...

Apart from its ongoing antitrust investigation as put forward by the Federal Trade Commission (FTC), Facebook is also having a rough time regarding its proposed digital currency, the Libra. A few months ago, Facebook announced its plans to float its own cryptocurrency and also released a whitepaper to the effect.As part of the announcement, a Libra Association was announced, an association made up of several big companies including Uber, Mastercard, Visa, eBay, Spotify and many other...

There has been a lot of negativity surrounding the launch of Facebook Libra over the last few months. Global regulators and banking institutions have showered severe criticism over the project. However, despite several kickbacks, the Libra Association is proceeding ahead with its plans of mainnet launch.Recently, the Libra Association has published a new roadmap that highlights 4 major milestones to be attained before the launch of the Libra network. The Calibra team says that the first...

Photo: ShutterstockWell, if the regulatory scrutiny on Facebook‘s Libra cryptocurrency was not enough, even bankers have jumped in to pull down the Libra project. Recently, the United States Federal Reserve had asked some of the largest banking institutions in the country about their stand on Libra.Responding to it, the bankers have expressed risks posed by Libra like a potential decline in the deposit accounts as well as the banks’ payment volumes. As per the Bloomberg report, the banks...

Libra Association Managing Director Bertrand Perez said on Friday that the Facebook’s cryptocurrency Libra, that should be launched by a Geneva-based association next year, is not intended to replace existing currencies. He said:“We are not in the area of implementing any monetary policy with the (Libra) Reserve.”This confirms what Libra’s CEO David Marcus was speaking back in July at the hearings when he kept stressing that Libra is not an investment and it doesn’t want to conquer the...

Speaking to the German federal parliament Bundestag on Wednesday, Benoit Coeure, a member of the Executive Board of the European Central Bank (ECB) said that Facebook’s currency Libra could possibly fix some of the troubling issues that exist at the international payments market. However, he warned that, on the other hand, it might create other problems that will need regulators to act more liberal and creative. He said:“Libra has undoubtedly been a wakeup call for central banks and...

While Facebook is prepping for its Libra launch in 2020, it also has acquired ServiceFriend which is a start-up that builds bots. Experts already have speculated that this is possibly meant for the Calibra wallet support service. First, this news was published in an Israel where ServiceFriend is situated. One of its largest investors, Roberto Singler, alerted one of the local publications about this matter. While Facebook hasn’t yet approved the relevance to Calibra on this deal,...