Former Standard Chartered Managing Director Joined Facebook Crypto Project

By Anne W. | June 16, 2019
Former Standard Chartered Managing Director Joined Facebook Crypto Project

Another specialist has been added to the rapidly growing team Facebook is putting together, to work on its cryptocurrency project “GlobalCoin”. This time, a senior bank lobbyist, who formerly worked at Standard Chartered, was hired.

Edward Bowles – who previously served as a managing director for group public and regulatory affairs at the bank – will come aboard starting September this year.

The FT has not disclosed the source of the news and has further stated that all parties, including Bowles, Facebook and Standard Chartered would not make any comments regarding the recruitment. The professional LinkedIn profile of Bowles still left Standard Chartered as his current workplace and has up to now had no connections with the social media giant.

The FT report believed that this initiative is an attempt by Facebook to acquire political and regulatory scrutiny, in the EU region, prior to its official introduction of GlobalCoin – a white paper is ready to be announced to the public audience on June 18.

Facebook has reportedly been discussing with regulators over crypto-related matters and has already had meetings with the U.S. Commodity and Futures Trading Commission. According to BBC, Facebook has come to Mark Carney – the Bank of England governor – to look for advice for the problems concerning crypto opportunities and regulations, to prepare for its “project Libra” – internal name of the ongoing crypto project.

Mastercard, Paypal, Uber, and Visa are reportedly the major names that will back Facebook’s new cryptocurrency, reported by The Crypto Sight on June 16.

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