Binance discusses Libra cryptocurrency collaboration with Facebook

On Thursday at the Fintech conference in Tel Aviv, Binance chief strategy specialist Jin Chao said that negotiations with Facebook on the Libra cryptocurrency project are only at the first stage.

“We are negotiating with Facebook at the official level,” he says. – As for listing, they plan to operate in the so-called “private network”. This indicates that they do not need liquidity from outside. However, if we correctly understand the prospects, over time they will have a desire to enter the secondary market. Currencies receive certain advantages when trading on the secondary market, so listing is in their best interest. ”

Chao added that negotiations with the company are mainly conducted in the direction of work with the infrastructure. He also expects that in the future with Facebook will contact and other exchanges to discuss the prospects of Libra.

“Adding to different exchanges will be beneficial for Facebook, and most likely this will happen,” Chao added. “As soon as they switch to the public network, we are ready to add their cryptocurrency to our trading platform.”

Earlier, several Libra partners shared
their concerns about the pressure on the project from regulators, past Facebook problems with user confidentiality and uncertain legal status of cryptocurrencies.