- Binance’s CTO shared the plans regarding Libra coin in the interview with Finance Magnates.
- The exchange may consider listing once the coin goes public and gains traction.
Binance, the world’s largest cryptocurrency exchange by trading volumes, is in talks with Facebook about Libra, the Finance Magnates reports citing Gin Chao, the chief executive officer of the company.
“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,” he said in an exclusive interview with the media outlet.
As the negotiations are still at an early stage, they are centered mostly about infrastructure issues. The cryptocurrency exchange may consider the listing once the coin goes public and gains traction, according to the CTO. He believes that Facebook will seek to list its coin on other exchanges as well.
“It wouldn’t just be in [Facebook’s] interest to list their coin on our exchange,” said the Binance strategy officer. “It would also be in their interest to list on other exchanges as well and that’s probably going to happen. So once they go on a public chain, and they get the sort of adoption that they could get, we would probably want to list them,” he added.
Meanwhile, early Libra partners are discouraged by strong regulatory pressure both from the US and Europe. Seven out of 27 are thinking about opting out if something goes wrong.
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