Facebook confirms its commitment to Libra with new opportunities in Ireland

Despite the recent downsizing of the Libra project, Facebook is significantly expanding the team that works to support the stablecoin project.

A new team to improve Libra's regulatory compliance and security

The social media giant plans to hire 50 people for its subsidiary Calibra payments branch – in charge of creating a wallet to store and send Libra – to start working in their offices in Dublin by the end of 2020.

The news was first reported by the Irish Times on Monday April 20. A Calibra spokesman let the media know that many of Dublin's new openings are targeting a new regulatory compliance team.

This team will work with regulators, as well as with specialists who can work on the portfolio protection program from fraud. There will also be a new customer support team to handle complaints – a sign that the project is indeed close to launch.

"We are actively hiring fraud, compliance, workforce management and customer support experts to expand our operations team to support the Calibra portfolio," said Laura Morgan Walsh, Calibra operations manager.

"We believe that financial inclusion is a problem that can be solved and we are looking for more experienced professionals to join us."

Facebook employees in Ireland are close to 7,000

Facebook first arrived in Ireland in 2009. Attracted by the country's low corporate tax, it established its European headquarters in the capital. In addition to being the company's European headquarters, much of the Irish office also works on global projects, such as infrastructure engineering in regions such as the Middle East and Africa.

Since 2009, the number of employees employed by Facebook and its partner companies in Ireland has increased from 30 to over 5,000 people. Calibra's openings are part of a new recruiting campaign that could bring Facebook's presence in Ireland to 7000 people by the end of 2020.

Monday's news comes less than a week after the Swiss-based Libra Association has said it will reduce its ambitions in an attempt to appease governments and central bankers. Instead of a single cryptocurrency anchored to a basket of currencies, the new design will see the launch of multiple Libra currencies, each of which anchored to different fiat, such as the US dollar and the euro.

Calibra – which although a subsidiary of Facebook is a separate entity of the Libra Association – is already advertising 26 job opportunities for its headquarters in Menlo Park, California. Most of these openings are aimed at developers, back-end staff and regulatory compliance experts.

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