Yesterday, Libra Association announced on its official website a pleasing announcement regarding the appointment of a new first CEO. He is Stuart Levey, who has extensive work experience before joining Libra, including the position of Under-Secretary of the Treasury for Terrorism and Financial Intelligence. He held this position during the reigns of President Bush and Obama, and currently still serves as chief legal officer for HSBC, one of the world’s leading financial institutions.
“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. I look forward to working closely with governments, regulators, and all of our stakeholders to realize this vision,” said Mr. Levey, the Libra Association’s incoming CEO.
Katie Haun, General Partner at Andreessen Horowitz and Libra Association board, she said:
“Stuart brings to the Libra Association the rare combination of an accomplished leader in both the government, where he enjoyed bipartisan respect and influence, and the private sector where he managed teams spread across the globe. This unique experience allows him to bring a wealth of knowledge in banking, finance, regulatory policy and national security to the Association and strike the right balance between innovation and regulation,”
“Stuart shares our vision for using blockchain technology to deliver a more open, inclusive and high-functioning payment system that puts crypto in the hands of billions around the world.”
Libra Associaton has the right direction, on 16 April it started the formal process of licensing the FINMA payment system, and has already managed to publish a white paper for the whole project.