Binance Strategy Officer Confirms Talks For Facebook Libra Listing

The Binance strategy officer named Gin Chao recently confirmed that the exchange would “probably want to list” Facebook’s Libra coin on the market. According to Chao, Binance has been in talks with the social media giant about the potential listing, the recent altcoin news show. Chao spoke with Finance Magnates and made a lot of interesting remarks.

The news are part of the FinTech Junction Conference in Tel Aviv, where journalists had a chance to sit down with some of the biggest fintech leaders in the country and discuss the future of the industry.

At the conference, the Binance strategy officer Chao said:

“We have had official dialogue with Facebook. With regarding to listings specifically, right now they are going to be on a so-called ‘private chain.’ So that means they won’t be looking for external liquidity.”

Currently, Libra is being created by Facebook and its many corporate partners – developed as a so-called “stablecoin” for easy payments among peers and between consumers and vendors. Stablecoins are huge in the coming altcoin news because of their value, which is pegged to the US dollar.

The Binance strategy officer further noted that Binance’s massive and always growing marketplace is a business decision that the company should not pass up. As he said:

“However, from what we understand the potential to be, that would lead [Facebook] to wanting a secondary market [for Libra coin]. Currencies benefit from a secondary market, so it would be in their best interest to want to be listed.”

Binance is also eyeing the competition. The management understands that Facebook would like to list their coin on several exchanges, which is why Chao said:

“It wouldn’t just be in [Facebook’s] interest to list their coin on our exchange. It would also be in their interest to list on other exchanges as well and that’s probably going to happen. So if they decide to go on a public chain, and they get the sort of adoption that they could get, we would probably want to list them.”

As many best cryptocurrency news sites noted, the general reception of the Libra cryptocurrency is still a mix of pessimism and enthusiasm. Most of the market, however, welcomes it and hopes for it to become a legit stablecoin.