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Former Undersecretary for Barack Obama takes the CEO spot at the Libra Association 

Former Undersecretary for Barack Obama takes the CEO spot at the Libra Association 

 

  • Libra announced this week that they had appointed Stuart Levey as its chief executive officer. 
  • Before joining the project, Stuart served as Obama’s undersecretary for terrorism and financial intelligence. 
  • He will now be joining the Libra Association as it’s very first CEO.

The Libra Association announced earlier this week that they had appointed Stuart Levey as its chief executive officer. Before joining the Facebook project, Stuart served as Barack Obama’s undersecretary for terrorism and financial intelligence. He will now be joining the Libra Association as it’s very first CEO.

In June last year, the cryptocurrency project was announced by the social network giant but has since been experiencing numerous obstacles in the way of getting this stable coin on the market. This has significantly delayed the project and even months after the announcement, countries such as France and Germany have said that they will block the development of the coin in their nations.

Now with Stuart Levey at the helm of the project, the future is looking a little brighter for Facebook and Libra. Previously serving as the first Undersecretary of the Treasury for terrorism and financial intelligence on the administrations of George W. Bush and Barack Obama, Stuart is now looking for different ventures with Libra.

The stable coin aims to provide a payment system and the sound of financial infrastructure to help billions of people from every corner of the globe. As he works at the project, Stuart will be serving as the overall strategic leadership of the project. Not only this, but he will bring his wealth of expertise to combine technological innovation with a sturdy compliance and regulatory framework.

Talking about his new position at the Association, he said the following:

“I am honored to join the Libra Association as it charts a bold path forward to harness the power of technology to transform the global payments landscape. Technology provides us with the opportunity to make it easier for individuals and businesses to send and receive money, and to empower more than a billion people who have been left on the sidelines of the financial system, all with robust controls to detect and deter illicit financial activity.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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