Winkelvoss twins explore partnership with Facebook on Libra

Winkelvoss twins explore partnership with Facebook on Libra

Cameron and Tyler Winklevoss, the founders of the Gemini digital currency exchange, are open to partnering with Facebook on the social media giant’s cryptocurrency project Libra, CNN Business has revealed.

The news might come as a surprise to some, given the legal battle the brothers had with Facebook’s co-founder Mark Zuckerberg over who invented the social network. However, it seems that the brothers have moved on and are now focused on their crypto venture.

“Facebook was a dispute, but it didn’t really define who we were as people,” Tyler Winklevoss said in a recent interview with CNN Business. “Gemini’s much more of a representation of who we are, what we stand for, what we’re interested in.”

The Gemini founders appear to be pursuing a partnership with Facebook, although whether such a partnership would materialise, remains unclear. Regardless, the twins view the creation of Libra as a positive development for the industry, one that could help digital currencies achieve mainstream adoption.

“I think there is a day in the future where we can’t live without crypto, or imagine a world before crypto,” Cameron Winklevoss said, as quoted by CNN Business.

Facebook’s June announcement of Libra sparked excitement within the crypto sector, but also prompted pushback by regulators and lawmakers around the world. David Marcus, the head of Facebook’s newly created blockchain subsidiary Calibra, last month was grilled by US lawmakers, who raised concerns that if the plans come to fruition, Facebook and its partners could obtain huge economic power.

Calibra is one of the 28 “founding members” of Libra Association, a Geneva-based consortium set to govern the project. The consortium includes major companies such as Visa, Mastercard and Vodafone Group and Facebook plans to attract more partners by the cryptocurrency’s proposed 2020 launch.

According to CNN Business, Gemini has been in talks with Facebook about joining Libra Association. The news service notes that the platform’s desire to work with regulators could make it a valuable partner for Libra.

Featured image: Chinnapong /Shutterstock.com

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