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Message | Libra's Head David Marcus: PayPal Makes Banks Start Paying Attention to Bitcoin and Stablecoins

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Message | Libra

Last week, PayPal announced that it would open up its online wallet to support buying, selling, and holding cryptocurrency, sparking a heated discussion. In the early hours of the 26th, David Marcus, the head of Libra and the head of the Facebook Financial Group, also shared his observations on this.

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Last week, PayPal announced that it will open its online wallet to support buying, selling, and holding cryptocurrencies, sparking heated discussions. In the early hours of the 26th, David Marcus, head of Libra and head of Facebook's financial group, also shared his observations:

"Excited to see mainstream financial services entering the cryptocurrency space. Following the news from PayPal last week, many banks have also begun to seek support for Bitcoin and cryptocurrencies. We are at a turning point."

Compared to the significant attention on PayPal's news, Libra appears dim and almost forgotten by the world. Since waiting for approval from the Swiss Financial Market Supervisory Authority for its payment license starting in April this year, Libra has made no significant progress except for personnel updates. Facebook currently seems to have temporarily shifted its focus to payment services.

It is understood that Facebook has established a new department, "Facebook Financial (F2)," covering all payment projects, including Facebook Pay, the digital wallet "Novi (formerly known as Calibra)," WhatsApp Pay, and more, with David Marcus leading all the payment businesses mentioned above.