Cybersecurity
Crypto Behemoth Binance Is Planning a Rival to Facebook’s Libra
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One of the largest cryptocurrency exchanges is looking to partner with governments and companies to develop new digital currencies as it competes with the Libra project spearheaded by Facebook Inc.
To that end, Malta-based Binance said it plans to create an independent “regional version of Libra,” the digital coin being developed by Facebook Inc. and partners, in a Chinese-language statement on its website Monday. The firm run by Chief Executive Officer Zhao “CZ” Changpeng said its open blockchain project, Venus, is intended to “empower developed and developing countries to spur new currencies.’’