Libra is ‘inevitable,’ better to embrace it, says its investor, a French billionaire

French tycoon Xavier Niel, founder of telecoms group Iliad and one of the investors in the Facebook-led stablecoin project Libra, has said that Libra is “inevitable” and “will exist” like the other 1,000+ cryptocurrencies in market.

In his column in French financial newspaper Les Echos, published Friday, Niel further said that denying Libra or closing the door on it would not be profitable to anyone.

“With libra, payments will be much more direct, interpersonal and fast," said Niel, adding that there will be no middleman to impact costs and no monopoly of banks.

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