Spotify Looking for Associate Director to Lead Activity on Libra Project, Other Crypto Efforts
The world's largest audio streaming service is on the hunt for a new associate director to lead its activity within the libra stablecoin project.
The rebranded Libra network aims to come out with an initial product around the end of this quarter, with help from Fireblocks and First Digital Assets.
A stablecoin is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price.
The ECB believes it should have the final say ahead of any proposed stablecoin launches.
A Bank of America report on a possible mass-adopted digital euro noted that such movement could spell difficulty for commercial banks that could see some of their deposits migrate to the European Central Bank.
German Finance Minister Olaf Scholz took aim at the rebranded lDiem and said it would take more than cosmetic changes to smoothen regulatory concerns.