Calibra CEO David Marcus said Libra does not threaten the monetary sovereignty of states, as it is about the payment system, not about creating new money. The latter remains strictly the prerogative of central banks, he assured.

“Libra is designed to become the best payment network and system that works on top of existing currencies and provides tangible value to consumers around the world ,” wrote Marcus.

3 / Libra is designed to be a better payment network and system running on top of existing currencies, and delivering meaningful value to consumers all around the world.

– David Marcus (@davidmarcus) September 16, 2019

The top manager stressed that a stable token will be provided in a 1: 1 ratio with a basket of “strong currencies” and called “strict regulatory control” over the availability of full reserves in the management of Libra Association desirable.

Marcus noted the readiness of the project team to interact with central banks, regulators and legislators in solving the problems of the mechanism and principles of Libra.

The head of Calibra also expressed hope for the early ratification of the charter of the Libra Association . This will allow the consortium to completely take over the management of the project, and Marcus himself to focus on developing the wallet.

We will remind, earlier about the threat of Libra to the monetary sovereignty of the country, said the Minister of Finance of France Bruno Le Mer. He promised a ban on the development of Libra in Europe. His rhetoric was supported by the German authorities.

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