Bertrand Perez, chief operating officer and interim manager of the Libra Association, reiterated the position on CNBC, saying he remains “confident” that the recent departure of Visa, Mastercard, and PayPal, among others, will not throw a spanner into the network’s eventual launch.
The Libra Association is still planning on launching with the 100 members initially envisioned in its June announcement, including new financial and banking partners.
“We can confirm that the plan is to have up to 100 members”, a Libra Association representative told CoinDesk Monday at the formal charter signing in Geneva.
For now, the Facebook-led project has no banking partners among its 21 founding members who signed a charter earlier this week.
“There’s only one Visa, one Mastercard”, Perez said in an interview. “I will not tell you that we have the equivalent, but I will tell you that we have reputable companies that are also very active in the financial and banking space.”
The loss of the payments partners may slow the timeline, but the project is undeterred, he said:
“With such a big project and the vision that we’re having, launching a few quarters later or before makes no real change.”
Calibra CEO and Libra Association board member David Marcus concurred with Perez on Twitter late last week as news broke of the departures.
I would caution against reading the fate of Libra into this update. Of course, it’s not great news in the short term, but in a way it’s liberating. Stay tuned for more very soon. Change of this magnitude is hard. You know you’re on to something when so much pressure builds up.
– David Marcus (@davidmarcus) October 11, 2019
The Libra Association said some 1,500 firms have expressed interest in joining the project with about 180 meeting the given criteria. Fourteen of the original 21 members must agree to each new party joining the project, however.
Libra is ‘Catalytic Event’ for Central Banks, Says Head of Sweden’s Riksbank
The Libra cryptocurrency payments project is shaking up central banking, according to the head of Sweden’s central bank.
Speaking on CNBC’s “Squawk Box Europe”, Riksbank governor Stefan Ingves said the Facebook-led project has been an “incredibly important catalytic event” forcing central bankers to reconsider their primary product: money.
Ingves said the Riksbank – which is working toward piloting an e-krona in the near future – has had to reconsider its own development in light of private currency alternatives. The development of a new kind of currency is a near-unprecedented event, happening only once every few centuries, he added.
“Part of my job is to produce a good/service called the Swedish krona which is convenient to use for Swedish citizens, and if I’m good at that in a technical sense then I don’t have a problem”, Ingves told CNBC, “But if I were to start issuing 20-kilo copper coins the way we did in 1668, then we soon would be out of business.”
Ingves cautioned, though, that most private sector money initiatives “have collapsed sooner or later.”
The Libra Association gathered in Geneva, Switzerland Monday to sign a formal charter among its now 21 initial members. Last week, multiple money providers such as Visa and MasterCard dropped out of the project after pressure from U.S. lawmakers.