Libra co-founder: Libra was not created to compete with fiat currencies, but to complement existing currencies

According to AMBCrypto news, recently, Christian Catalini, co-founder of Libra and chief economist of Calibra, said in an interview that while transferring money globally, remittance fees may be as high as 30%. Libra solves this problem by serving people with no bank accounts and insufficient deposits at low prices. He also noted that each new innovation initially encountered some resistance, and Libra had anticipated such regulatory resistance. Libra was not developed to compete with fiat currencies like the US dollar or Euro, but it was created to complement existing currencies.