Binance is considering becoming a validator node for Facebook's Libra

27 Jun, 2019 | Updated: 27 Jun, 2019
by David Borman
Binance is considering becoming a validator node for Facebook's Libra

Today CryptoPotato has announced that an employee from Binance recently let it slip that the exchange is considering becoming one of the validator nodes on the upcoming Libra network. Binance would be joining Coinbase as a major crypto exchange that is also part of the Libra Association.

In an interview at the FinTech Junction Conference in Tel Aviv, Binance’s Chief Strategy Officer Gin Chao claimed the exchange is considering becoming one of the exclusive validator nodes for Libra's network. When specifically asked about Binance's intentions for partnering with Libra and investing in a node, Chao had this to say:

"We’re definitely considering it. And so, we would like to throw our hat in the rain [sic]. Whether or not we will become one, we’ll see."

Chao went on to elaborate that he feels that Facebook's Libra is going to be overall a positive thing for cryptocurrency, a sentiment that he is not alone in:

"Facebook gets involved, it validates both blockchain and then in this particular case – cryptocurrencies specifically. So whether or not Libra becomes incredibly successful, it’s already a good thing."

It should be noted that in order to be eligible to run a node, an entity must first invest no less than $10 million in Libra Investment Tokens, the sister token to the Libra, and one only available to Libra Association partners.

A move like this would make it pretty obvious that Binance would support the Libra on its exchange, but that would likely occur anyway. Will Binance make the move and become a Libra node? Stick with Chepicap for all updates!

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Bitcoin over $12K! 5 Reasons WHY! Subscribe to the Chepicap YouTube Channel for more videos!


Should Binance become a node for the Libra network?

(6 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage