A Taiwan based crypto exchange MaiCoin wants to join Facebook’s Libra Association.

On Aug 21st, Tapei Times reported that MaiCoin wants to join “specifically looking to operate a node on the blockchain-based network, which would validate and record transactions on the shared ledger.”

“When we reached Facebook and discussed getting involved in the project, Facebook told us that it is looking for partners around the world that not only have high technical skills to protect the node, but also are confident of building a local user base of more than 20 million people.”

Maicoin CEO, Alex Liu

Alex Liu, expressed that the crypto exchange will need permission from its local regulators for joining Libra Association. The exchange will need official authorization if the company allows investors to trade Libra with new Taiwan dollars.

Facebook in Asian markets

Facebook’s Libra is yet to be released even though it is working further to capture the Asian market through affiliated projects.

ALSO READ :  Zuckerberg: Facebook Will Not Launch Libra Without US Approval

Facebook’s WhatsApp is reportedly in the preparatory stage to launch digital payments service in Indonesia. It’s in talks with Indonesian state-owned banks and fintech firms to launch payment service in Indonesia.

Facebook plans to integrate Libra stablecoin into WhatsApp and other platforms through its Calibra wallet but unfortunately, it will not be available for India and for those other countries who have banned cryptocurrencies.


Share This

Share This

Share this post with your friends!