Executive Vice President-Designate of the European Commission, Margrethe Vestager, has questioned the motives behind Facebook’s forthcoming Libra stablecoin.
In an interview with the Financial Services Union of Denmark, a fragment of which was published on Oct. 1, Vestager addressed the possible impact from Libra’s launch — such as competition due to Facebook’s multimillion user base and distortion of competition in the payment services market. Vestager argued: