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Crypto Exchange to Support Libra Says, CEO of Shapeshift

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Erik Voorhees, Shapeshift’s CEO stated that has not been launched, he is looking forward to integrating Facebook’s cryptocurrency, Libra on the Shapeshift.

Erik Voorhees, Shapeshift’s CEO while at the Bitcoin2019 event stated that even though Facebook’s cryptocurrency, Libra has not been launched, he is looking forward to integrating the virtual asset on the Shapeshift cryptocurrency exchange upon its launch, reports Coindesk on June 27, 2019.

Shapeshift May be Willing to Integrate Libra on its Platform

Per the report, Erik Voorhees has shown some enthusiasm for Libra after stating that Shapeshift may be willing to integrate the crypto asset on its platform. This is despite the fact that Libra is yet to be launched and has been scheduled for the first quarter of 2020.

The CEO, however, pointed out that since we can only rely on Libra’s whitepaper at this point, there is a possibility for changes in the actual virtual asset when it is launched. For instance, the whitepaper promises some level of decentralization and that is yet to be proven until its actual existence.

Voorhees also questioned how much control Libra could give its users based on a technical point of view. According to him, this is how freely the virtual asset can move and as such, will a person need permission before they can integrate it into something.

Libra’s Potential in Broadening Bitcoin Adoption

Shapeshift’s CEO further outlined the potential Libra could have on Bitcoin and the cryptocurrency industry as a whole. In this case, he noted that the digital currency could broaden the adoption of bitcoin, make more people interested in digital currencies, and used to the volatility of the market.

Similarly, the entrepreneur said he is excited that Libra is not based on one-on-one parity with the dollar. Also, Americans will get more comfortable with a virtual asset that is slightly powerful in comparison to the dollar.

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