#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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