Binance Reportedly in talks with Facebook About Libra

Leading cryptocurrency exchange Binance is talking to social media giant Facebook about its much-hyped Libra project. According to a report by Finance Magnates, the exchange is in early discussions for listing Libra on their platform.

We have had an 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. However, from what we understand the potential to be, that would lead them to wanting a secondary market. Currencies benefit from a secondary market, so it would be in their best interest to want to be listed.

Binance’s Chief Strategy Officer Gin Chao to Finance Magnates

According to a separate report on CryptoPotato, Binance is also considering becoming a node for Facebook Libra. Big names such as Visa, Uber and eBay have already signed up for the ‘privilege’ at a cost of $10 million.

However, Binance is still to take a final decision on the matter.

(Image Credit: Binance)

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