Tag Archives: Libra

In the FT, Chris Giles, Caroline Binham, and Delphine Strauss report about plans of the Bank of England to let fintech companies bank at Threadneedle Street and thereby offer payments systems on a level playing field with commercial banks. The editorial board of the FT welcomes the plans; it seems to have in mind not only competition but also “synthetic” CBDC: By offering fintech companies access to the BoE’s vaults, the governor may inject much-needed competition into the sector. What...

In the FT, Hannah Murphy reports about Facebook’s launch of Libra. Lots of skepticism in the comments section. And Hannah Murphy reports that [p]ositive Money, a consumer campaign group, attacked the proposal. “Our money is increasingly in the hands of a small number of banks and payment companies, and we should avoid ceding further control to unaccountable corporate interests. Facebook’s plans pose alarming implications for privacy and power in the economy,” said David Clarke, the head...