What’s significant with BNY Mellon’s announcement is how the bank plans to ensure that digital assets aren’t treated any differently than stocks and bonds, meaning all of these holdings will be managed through the same infrastructure. And rather than solely focusing on the likes of Bitcoin and Ethereum, it appears that BNY Mellon has few limits on the types of digital assets that it’s willing to accept.
German finance minister pans Libra’s new name
Olaf Scholz called the Facebook-founded stablecoin project ‘a wolf in sheep’s clothing” that threatens governments’ control over the economy
“It is clear to me that Germany and Europe cannot and will not accept its entry into the market while the regulatory risks are not adequately addressed," Scholz said. “We must do everything possible to make sure the currency monopoly remains in the hands of states.”
With Ripple’s $10 million donation, Mercy Corps strengthens its bet on crypto
The nonprofit has already joined forces with the Libra Association and Celo Foundation to use blockchain technology to bring the poorest into the global financial system
The fintech-friendly nonprofit connects some of the world’s poorest people to “resources and opportunities they need to build strong, stable livelihoods that can withstand future challenges.” Last year it helped some 28 million people in 40 countries struggling with economic instability, natural disasters, and conflicts.
Libra adds CFO, chief risk officer
The Libra Association announced that former HSBC, Credit Suisse banker Ian Jenkins has taken on the dual role at the global stablecoin’s governing body
The Facebook-founded group announced on Oct. 15 that Ian Jenkins has taken up the dual role of CFO and chief risk officer. He joins recently appointed CEO Stuart Levey and Chief Legal Officer Steve Bunnell at the helm of Libra’s governing body.