By As per reports circulating within the cryptocurrency community, major crypto exchange Binance is reportedly in talks with Facebook regarding getting involved with the social media giant’s upcoming crypto project, Libra.
Finance Magnates states that it spoke to Binance at the FinTech Junction event which took place on Thursday in Israel, with the exchanges CSO, Gin Chao, stating that early talks have happened with Facebook regarding a possible listing of the Libra token.
Chao stated that due to the fact that Libra will be on a private blockchain at first, it won’t need external liquidity. However, Facebook could pursue a secondary market, he stated, adding:
“Currencies benefit from a secondary market, so it would be in their best interest to want to be listed.”
As per another report from CryptoPotato, which also spoke to Chao at the event in Israel, he further argued that Binance might support the Libra blockchain by acting as a permissioned node which validates transactions.
Facebook has stated that it has plans to have as many as one hundred nodes. As reported, major companies such as Visa, Uber, eBay and Lyft have already signed up to run nodes at the pretty price of $10 million.
Chao stated that Binance is “definitely considering” the option of running a node, but a final decision still needs to be made.
Chao, speaking about Libra stated:
“It’s a good thing, for sure. Any time a company with the weight, size, resources, and impact of Facebook gets involved, it validates both blockchain and [cryptocurrencies]. So whether or not Libra becomes incredibly successful, it’s already a good thing.”
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