INTERNATIONAL - A senior Facebook executive who sits on the Libra board is optimistic the digital currency will launch sooner rather than later, despite sustained criticism from global regulators.
The social media group said Libra will dramatically cross border payments costs, and spur other innovations it hopes will upend global financial services, when it unveiled plans for the cryptocurrency last June.
Facebook is targeting 1.7 billion people around the world who are classed as unbanked or underserved by financial institutions.
However, policymakers from the US Federal Reserve to the Bank of England have raised concerns ranging from money-laundering, tax evasion and data protection issues.
The tech giants David Marcus said, "Im an optimist. A year ago, we werent having the kind of conversations that I think will lead to a regulatory regime that will mean projects like ours and others will see the light of day".
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Facebook says Libra will launch 'sooner rather than later' - IOL
