Coinbase’s UK Chief Executive Officer (CEO) Zeeshan Feroz revealed he believes that the impact of central banks and big tech can propel cryptocurrency into the mainstream.
Speaking in an interview with CNBC published Oct. 24, Feroz said that crypto has two avenues for propelling itself into the mainstream, which includes the issuance of a central bank-backed digital currency.
He explained,
I personally think there are two ways for crypto to go really mainstream. One is the issuance of a central bank-backed digital currency. So if the Bank of England issues a digital pound, if the Fed issues a digital dollar, I think that will catalyze adoption in a way that us geeks in Silicon Valley may not be able to.
Feroz also recognizes the impact of big tech companies such as Facebook. He said that the issuance of a digital currency such as libra could pave the way for greater cryptoasset adoption,
The other way, I think, is somebody like Facebook with the billion users they have, stepping in and creating the ability to pay. We’re involved in that project because of the potential to take crypto mainstream. Libra as a currency has the potential to be a form of payment that is universal.
Coinbase is one of 21 remaining members to support the Libra Association, following the exodus of PayPal, Mastercard and Visa among others.
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