The chief economist of Dutch multinational banking and financial services giant ING says that Facebook’s plan to launch a digital currency has put pressure on central banks to launch their own.
In an article and video interview published on ING’s THINK portal on Sept. 27, Mark Cliffe said that there was “some urgency in the policy community” sparked by Facebook’s unveiling of the Libra stablecoin, which it plans to launch in 2020, pending regulatory clearance.