Circle USDC Product Supervisor: The cryptocurrency industry will benefit from Facebook's Libra

Joao Reginatto, head of Circle's stable currency USDC product, recently shared his views on Facebook's Libra and how the stable currency stimulates the massive adoption of cryptocurrencies. According to Facebook, Libra will enable the group's billions of users around the world to buy or send money to people at almost zero cost and friction. However, Reginatto believes that Libra will face regulatory uncertainty when it is launched in 2020. He said, "Everything Facebook does is subject to strict scrutiny by the government, but their entry into the encryption system should be a turning point in regulation and mainstream awareness." When asked if Libra would become an overwhelming competitor to USDC, Reginatto said. He believes that Circle and USDC will benefit from Facebook's growing awareness of the encryption field.