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#CryptoCorner: Goldman Sachs (NYSE: $GS) CEO Talks Interest in Crypto, Binance Speaking to Facebook (Nasdaq: $FB) About Libra Listing

 

Point Roberts, WA and Delta, BC - June 28, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: Goldman Sachs (NYSE: $GS) CEO Talks Interest in Crypto, Binance Speaking to Facebook (Nasdaq: $FB) About Libra Listing

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Crypto Corner

Stocks discussed: (NYSE:GS) (NYSE:JPM) (NasdaqGS:FB)

In an interview with French finance publication Les Echos, Goldman Sachs (NYSE:GS) CEO David Solomon said Goldman was interested in tokenized payments and believed that stablecoins could constitute a viable future payment system.

"We do extensive research on the concept of "tokenization", the potential of which we believe, and which designates the creation through the blockchain of a stable digital currency based on a basket of real currencies that can move money across borders and without friction. This is the direction in which the payment system will go."

Solomon was also asked if Goldman would follow JPMorgan Chase's (NYSE:JPM) lead with the creation of its own digital currency.

"Absolutely! Many people are looking in this direction. But it is too early to say which platform will prevail. Sheryl Sandberg [Facebook operations manager, nldr] herself said we were still very, very far from the launch. Assume that all major financial institutions around the world are looking at the potential of "tokenization", "stable wedge" and frictionless payments."

Finance Magnates reports that crypto exchange giant Binance is in talks with Facebook (NasdaqGS:FB) regarding the potential listing of the latter's cryptocurrency Libra. Binance strategy officer Gin Chao spoke to Finance Magnates at the FinTech Junction Conference in Tel Aviv on Thursday, where he explained that it would be beneficial to Facebook to seek listing on exchanges like Binance.

"We have had 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."

This was echoed by ShapeShift CEO Erik Vorhees, who expressed a similar interest in listing Libra. According to CoinDesk, Vorhees said:

"It's too early because it doesn't exist yet but I would love to integrate Libra into ShapeShift when it does exist."

Crypto exchange Gemini announced via blog post yesterday that the company will be opening an office in Chicago. An excerpt from the blog reads:

Since May, we've seen bitcoin increase in value and this week it surpassed its 17-month high. Trading volumes across the industry and mainstream interest in cryptocurrency are on the rise. The time has never been more right to double-down on our mission to build safe and reliable institutional-grade infrastructure.

Sam Mowers, Investorideas

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