Standard Chartered Senior Bank Lobbyist Added to Facebook’s GlobalCoin Project

16 Juin, 2019, 07:27 | Auteur: Auguste Feret
  • Facebook’s Global Coin May Be A ‘Historic Initiative,’ Say RBC Analysts

Facebook has reportedly enlisted over a dozen fintech companies to back its foray into the crypto space; including PayPal, Mastercard, Uber and Visa, the Wall Street Journal reported on Friday.

The two experts expect that Facebook's currency will be used for payments, commerce, applications, and gaming across the firm's ecosystem, including image-based social media platform Instagram and encrypted messaging service WhatsApp.

Mahaney and Schwartzman also repeated previously reported expectations that Facebook will release their currency's white paper on June 18, following in Satoshi's footsteps to explain the fundamental protocols that will underpin Libra, the internal codename for the project.

Rumors are that the new cryptocurrency will be a stablecoin and will be backed by multiple fiat currencies across the globe.

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FT has not provided any sources confirming Bowles switch from Standard Chartered to Facebook and his LinkedIn profile maintains the position of Managing Director at the bank.

No confirmation has been provided by Facebook, Bowles, or the former employers of Bowles. The hiring is targeted at GlobalCoin, a cryptocurrency the social media company intends to announce later this monthreports Financial Times on June 14, 2019.

Not everyone is so enamored of the upcoming Facebook Coin. The latter means several things for the cryptocurrency industry and one of such is legitimizing the crypto space which is mostly run by hype and speculation. This is in addition to the $1 billion in VC funding Nathanial Popper of the New York Times has reported that Facebook is seeking, either as an investment or for collateral.

Charlie Shrem, one of the most respected figures in crypto, stated that FacebookCoin was an attempt by the banks, credit card companies and big tech to attract people away from BTC by offering them a so-called better and easier crypto.

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