In a fresh move to revive Facebook-backed digital currency project Libra, the Libra Association has onboarded another member. British payment startup Checkout.com has joined the Libra Association, becoming the 24th member engaged with the mission of building a better global payment network, Libra tweeted on April 28. Tech advancements would fail without necessary regulatory frameworks Guillaume Pousaz, Checkout.com founder and CEO, officially announced the news in a company statement on Tuesday. The executive outlined that Checkout.com joins Libra’s efforts to not only promote technological advancement but contribute to the formation of necessary regulatory framework to drive mass adoption of better …
The Libra Association, or which Facebook is a member, is seeking a payment system license under Switzerland’s Financial Market Supervisory Authority (FINMA) for its planned stablecoin project, Reuters reported on Sept. 11. “Regulated, low-friction, high-security” blockchain payments In an official statement today, the Switzerland-registered Libra Association — a not-for-profit membership organization established to govern the Libra network — Dante Disparte, the Libra Association’s head of policy and communications, said of the choice to coordinate with Swiss regulators: “We are engaging in constructive dialogue with FINMA and we see a feasible pathway for an open-source blockchain network to become a regulated, …
The increased penetration of cryptocurrency in the digital payment arena appears to be affecting the landscape of cross-border remittances. Financial institutions and other mainstream establishments are now jostling with blockchain startups for control over an industry that could possibly experience massive growth over the next few years. With more participants comes greater competition and an emphasis on creating the most robust operating technology. To achieve this aim, some players are leveraging their status as giants of their respective mainstream fields while others are pursuing partnerships and collaborations. For historically unbanked and underbanked areas of the world, the emerging landscape is …
Social media giant Facebook has apparently formed a new financial tech firm, Libra Networks LLC, according to a filing on the Geneva Commercial Register. Libra Networks was registered in Geneva on May 2 by Facebook Global Holdings II LLC. Per the official filing the firm provides: “...services in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.” Facebook registered the trademark “Libra” with the United States Patent and Trademark …
Ripple, the company behind the third largest cryptocurrency by market cap, has recently employed Kahina Van Dyke as the new senior vice president of business and corporate development, according an official statement July 11. At the new position Van Dyke will be responsible for providing Ripple with strategic partnerships for international financial services, focusing on the development of “a new global technology solution for international payments.” Van Dyke has joined Ripple to “[eliminate] the friction in cross-border payments” by “establishing partnerships and applying technology to change an industry,” she said in the press release. When asked what is the “the …