Many people are still wondering if and when Facebook’s Libra project will come to fruition. Following the recent hiring of an HSBC executive, things may start to head in the right direction after all.
For some time now, Facebook’s Libra has been rumored to become the next global currency.
Another Development for Facebook’s Libra
Whether it can ever live up to those expectations, is a different matter altogether.
For all intents and purposes, the project is still in the very early stages of research and development.
It now appears that the Libra Association has a new CEO.
This further confirms the centralized approach to this particular project, which might not sit well with most people.
The role of Libra Association CEO will be filled by Stuart Levey, a former HSBC executive.
All of this raises a lot of questions as to how this new currency will look exactly.
Levey also formerly services as the first Under Secretary of the Treasury.
That seems to confirm that the US government will be heavily involved in Libra, which may or may not be a good thing.
It is evident that this new appointment is a result of ongoing regulatory scrutiny the Libra has faced in recent months.