Home Crypto Libra Facebook’s Libra: Banks Waking Up from Their Slumber

Facebook’s Libra: Banks Waking Up from Their Slumber


The irruption of Libra seems to have wakened up banking executives from their indifferent stance on the bitcoin and the crypto world. Although rumours of the new cryptocurrency have been spreading for months, it is now that the Libra group showed their hand that things start getting hot in the banking establishment.

Twitter is filled with threads about how the Libra could affect banking business.

One of them is this one, guessing that Libra’s announcement will essentially push banks to look for their own solution.

Two days later the same xrp mami account re-tweeted one commentary by Frank Chaparro, Director of News at TheBlock saying how Ripple (XRP) is getting a lot of attention after Facebook’s Libra announcement last Tuesday.

Other publication mentions that Ripple’s CEO Brad Garlinghouse is “Ecstatic” about Libra’s announcement.

I will send a case of champagne to David Marcus the guy who runs Libra,” Garlinghouse said of Facebook’s blockchain chief.

Source U·Today

But Ripple doesn’t want all cryptos put into the same “wallet”

A bit later, Frank Chaparro posted another tweet:


Also, other cryptocurrency projects are moving towards payment solutions. This post says that the Litecoin Foundation has launched a debit card solution in a three-way partnership with crypto exchange Bibox and blockchain startup Ternio. The aim is to allow users to spend their Litecoins online and physical stores around the globe. Cardholders will be able to use this card in every place accepting conventional credit cards.

The following weeks and months will be very busy for executives of big banking corporations. Other payment solutions and, also, PayPal competitors such as Skrill, Neteller, Google Wallet and Bitpay might join the dance, as well.



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