Central banks could help lenders fight Facebook's Libra without fancy tech, BOE official says

27 September 2019 9:03pm
Banks could cut payment costs to rival Facebook’s cryptocurrency Libra without resorting to advanced solutions such as blockchain technology, the Bank of England Deputy Governor Jon Cunliffe has said.

Central banks could make it easier to wire money across borders simply through simpler laundering checks and longer opening hours, Cunliffe, who leads on financial stability issues, told a Frankfurt conference yesterday.