According to reports in the crypto press on Thursday, cryptocurrency exchange Binance speaks to Facebook about getting involved in the social media giant's upcoming Libra project.
Finance Magnates says it spoke to Binance at the FinTech Junction event in Israel on Thursday, with the exchange's CSO, Gin Chao, saying that early discussion has happened to Facebook over a possible future list of libra tokens.
Chao said that as libra will be on a private block chain in the first place, it will not need external liquidity. However, Facebook may eventually want a secondary market, he said and added:
"Currency benefits from a secondary market, so it would be in their best interest to want to be listed."
In another report from CryptoPotato, who also spoke to Chao at the Tel Aviv event, he further suggested that Binance can support Libra blockchain by acting as an authorized node that approves transactions.
Facebook has said it will ultimately have 1
Chao said Binance "definitely considers" the option, even if a final decision is not yet to be made.
Generally speaking about the Libra project, which was unveiled in mid-June, he said:
"That's good, for sure. Every time a company with the weight, size, resources and influence of Facebook gets involved, it confirms both blockchain and [cryptocurrencies]. So if Libra becomes incredibly successful, it is already a good thing. "
Binance image via Shutterstock