#CryptoCorner Episode 464: Libra (NasdaqGS: $FB) Association Announces CFO Hire, Bahamas Central Bank to Make “Sand Dollar” CBDC Global and Five Banks in Russia Willing to Pilot Digital Currency in 2021

#CryptoCorner Episode 464: Libra (NasdaqGS: $FB) Association Announces CFO Hire, Bahamas Central Bank to Make “Sand Dollar” CBDC Global and Five Banks in Russia Willing to Pilot Digital Currency in 2021

 

Point Roberts, WA, Delta BC October 16, 2020 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

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Stocks discussed: (NasdaqGS:FB)

 

The Libra Association, the independent member organization overseeing the Libra digital currency project from Facebook (NasdaqGS:FB), has announced the appointment of Ian Jenkins as the Chief Financial Officer and Chief Risk Officer of Libra Networks. Jenkins boasts three decades of financial services experience. He commented:

 

“I am excited to join the Libra Networks leadership team at a time when innovation in the financial sector has the potential to empower billions of people worldwide. The Libra project is poised to transform the industry and I am looking forward to being part of this team.”

 

James Emmett, Libra Networks Managing Director, who himself just joined Libra last month, said of the new hire:

 

"Ian’s deep expertise in global finance, risk and strategy will be crucial in bringing the Libra vision to life. I look forward to working with Ian as we move forward to a more operational phase of the project."

 

The Central Bank of the Bahamas (CBOB), which plans to roll out its “Sand Dollar” digital currency on October 20, intends global usage for it as well, according to a report from local outlet, The Nassau Guardian. The CBOB’s assistant manager of electronic solutions, Bobby Chen, speaking at a Bahamas Chamber of Commerce and Employers’ Confederation virtual presentation for businesses ahead of the Sand Dollar rollout, said:

 

“At the moment, it is currently only used in a domestic setting, but eventually we are working on a solution that will make it interoperable with other global currencies.”

 

The CBOB’s Head of Banking, Cleopatra Davis, expanded on this:

 

“Also, the need to be interoperable with other wallets. That’s a key strategy that we’re working on as well as the RTGS/ACH integration, which would allow the movement of Sand Dollar to and from your bank account, which would then convert to fiat as it hit your bank account.”

 

Russia’s central bank has confirmed plans to launch limited digital ruble pilots in the first half of 2021 after banks including: “MKB, PSB, Zenit, Dom.RF and the Crimean RNKB,” have expressed interest in participating, according to a report from local outlet Izvestia. Anatoly Aksakov, head of the State Duma committee on the financial market, told the publication that “technologically and legally, everything is ready for a pilot with digital currency in Russia,” but piloting will have to wait until after “the law on digital financial assets will enter into force on January 1, 2021.”

 

Sam Mowers, Investorideas

 

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