Calibra Head David Marcus Touts Libra’s Money Laundering Standards
Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks.
Citing statements from Marcus’ speech at the Money 20/20 conference in Las Vegas, finance publication Finextra reports on Oct. 29 that he explained the nuances of the project during an interview. He said, ”I want to say that the efficacy of sanction enforcing can be much higher on Libra than other payments networks.”
The CEO of Calibra — Libra’s corresponding wallet — added that any wallet could participate in the network, so long as it was compliant with AML and know-your-customer standards. Marcus said, “It was designed to be competitive, but we still need to earn people’s trust over time to use Calibra.”