CEO of the world's largest stockbroker BlackRock said he did not think the Facebook balance was a crypto-match.
In a CNBC interview on July 19, BlackRock Larry Fink stressed that there is a tremendous need to democratize the exchange of foreign currencies in cross-border transactions and reduce exchange fees.
The CFO pointed to the existing problem of excessive cross-border transactions that people who have to send money globally usually do this through organizations that charge between five and ten percent. the world should not create a new currency to democratize global money transactions, which implies that this must be achieved through technology: [1
Fink points out that the global financial system does not need an international currency like Balances to reduce operational charges. Instead, he argues that including a specific technology mechanism in each deal would minimize transaction costs. The Executive Director said, "You do not need Libra, you have computers that can monetize and calibrate the euro with the dollar instantly for a few basis points."
The news comes against the news that Blackrock has set up a working group to assess (BTC), including investments in BTC's futures.As investment management is known for its critical position on crippoliticians, Fink describes BTC as a money laundering index in October 2017, two months before the cryptoLight has breached re its maximum of $ 20,000