Will Binance Be Collaborating With Facebook’s Libra?

By Rishma Banerjee

Libra, which is the cryptocoin that is to be released by Facebook, most likely next year has indeed moved the crypto sphere into action. Discussions, debate and varying opinions about the potential and the likely impact of this coin have become a common feature as of now. Amongst all of this, reports indicate that Binance has engaged in official discussions with Facebook and is “very excited” about the Libra project.

In an interview to BlockTV, on 27th June, exchange’s strategy officer Gin Chao revealed that the talks were at an initial stage, but, the executive said Binance was “looking forward to working with Libra as much as we can.” He said:

“I think the potential that libra can have, not just on mass adoption but what it means to payments and forcing regulators’ hands to catch up a bit, is all good news.”

In a different interview to Finance Magnates at the FinTech Junction Conference in Tel Aviv, Chao also noted that the discussions between Binance and Facebook “have largely focused on dealing with infrastructure.” He added:

“It wouldn’t just be in [Facebook’s] interest to list their coin on our exchange. It would also be in their interest to list on other exchanges as well and that’s probably going to happen. So if they decide to go on a public chain, and they get the sort of adoption that they could get, we would probably want to list them.”

Meanwhile, Chao confirmed to CryptoPotato, that Binance “would like to throw its hat in the ring” to become a validator node on the Libra network.g