Progress is being made at the Libra Association. A search committee, tasked with appointing their first leader, has just announced their decision.
Stuart Levey has been named the first CEO of the Libra Association.
While he might not be a household name, Stuart Levey boasts an impressive resume, making him an ideal fit for the position.
Notably, Levey served as the ‘Under Secretary of the Treasury for Terrorism and Financial Intelligence’. He held this position for many years, performing well enough to be kept on through multiple administrations, which included, both, Bush and Obama.
More recently, Levey took a position working for HSBC as their Chief Legal Officer – an impressive position in its own right.
Cumulatively, these experiences, and more, have provided years of experience dealing with the world of finance in varying capacities. Whether structuring government regulations, or immersed in banking practices, Levey has found success. Now, Libra hopes this trend will continue, and that Levey will lead the project to a bright future.
When the search for a CEO began at the Libra Association, a search committee was put in place to oversee the process. Leading this group was Andreessen Horowitz General Partner, Katie Haun. Upon announcing their decision, she had the following to say,
“Stuart brings to the Libra Association the rare combination of an accomplished leader in both the government, where he enjoyed bipartisan respect and influence, and the private sector where he managed teams spread across the globe. This unique experience allows him to bring a wealth of knowledge in banking, finance, regulatory policy and national security to the Association and strike the right balance between innovation and regulation.”
“Stuart shares our vision for using blockchain technology to deliver a more open, inclusive and high-functioning payment system that puts crypto in the hands of billions around the world.”
Time of Change
The announcement of their first CEO marks an important development for the Libra Association. While the project got off to a rocky start, due to skepticism from various levels of government, the project appears to be gaining steam again.
This skepticism has led to, essentially, a Libra 2.0 being drafted and put forth, marking important growth in project development. With being in a state of flux, clear and competent leadership is a must.
The Libra Association is an endeavour being spearheaded by Facebook. The overarching goal of Libra is to facilitate financial inclusion. The approach being taken, in an effort to achieve this, revolves around the creation of various stablecoins accessible to all.
In Other News
Beyond the announcement of Libra 2.0, and now a new CEO, the Libra Association has seen multiple ‘boosts’ in the past few months. These revolve around a ground membership within the Libra Association, as, both, Shopify and Checkout.com have joined the ranks.