In this possible new avatar, Libra would be no more contentious than Tether, the world’s most used stablecoin. The share of yuan in global currency trade, stuck at a modest 4.3%, would get a fillip. The Facebook-sponsored, Switzerland-based Libra Association, were it to operate a separate global currency, wouldn’t have the same heft. In the end, it’s Donald Trump’s stance on Libra that should perplex Asia. If the sticking point is oversight, it may still be possible to hammer out a compromise, and rescue a global stablecoin.

Source: Washington Post October 22, 2019 23:03 UTC