Facebook’s new stablecoin, Libra, might not be fully trusted yet with many financial regulators all over the globe. However, that situation doesn’t seem to be stopping Japan finance service Monex Group from eyeing to be part of FB’s very own cryptocurrency.
The financial service company reportedly already filed an application to become one of Libra’s group. That decision in becoming part of Facebook’s new coin project was unveiled by Monex’s CEO, Oki Matsumoto, during a recent press conference regarding the company’s Q2 2019 financial result.
Matsumoto himself admitted that despite having to pay 10 million as the membership of Libra’s group, he believes that the potential of if might just worth it. The plan for now is waiting for that review process which set to arrive at the end of August, before Monex Group themselves eventually decide whether they will eventually join or not by the end of September.
Although the CEO is quite confident with Libra’s potential, but reports are suggesting that they will remain cautious regarding their date of joining. Things could still change, depending on how the development goes with current regulatory issues that’s been troubling the stable coin’s condition up til now.
Moreover, in an attempt to provide his support towards Libra itself, Matsumoto recently stated his hope that virtual currency movement this days won’t be stopped. The CEO also advised that cryptocurrencies should build working relationship with reputable players in the financial industry to offer more credibility and quality.