We are not related to derivatives on the Libra token

We are not related to derivatives on the Libra token

As Tomer Barel, Facebook’s Calibra blockchain unit’s operations director, said that options for the Libra investment token are already offered on the secondary market, but Calibra has nothing to do with it.

Finance Magnates, citing several sources of its own, reports that institutional investors are already trading derivatives on the Libra investment token in the secondary market. Recall that such tokens will be issued
members of the Libra association and will be recognized as a security. They will also be available to accredited investors. Dividends and profits from a basket of assets providing the main stablecoin will be distributed among the holders of such tokens.

“Tokens do not exist yet. If someone sells them, then he does it of his own free will and at his own risk. In fact, they just sell air. Maybe they are selling a promise that they will have a token, but, I repeat, at the moment there are no tokens yet, ”Tomer Barel emphasized COO Calibra.

Barel also said that it has not yet been decided whether the main Libra token will be traded on exchanges. However, he hopes that the project will be allowed free trade in stablecoin. At the same time, the token itself will more compete not with other cryptocurrencies, but with ordinary money.

“When people use cash, then modern financial services are limited. But when the use of cash decreases, it means that financial services are developing successfully, ”Barel said.

Note that today, representatives of 26 central banks, including the US Federal Reserve and the Bank of England, will meet
with the Libra cryptocurrency project team to resolve regulatory issues.


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