Libra Association hires former HSBC veteran to head its stablecoin project

The Libra Association has hired former HSBC European head James Emmett as the managing director of Libra Networks — the operating company subsidiary of the association.

Emmett is joining Libra on October 1, the association announced on Thursday. Emmett spent more than 25 years at HSBC and recently stepped down as the CEO of HSBC Bank plc and Europe, where he led the bank's operations across Continental Europe, Sub-Saharan Africa, and Bermuda.

Stuart Levey, CEO of the Libra Association, who also joined from HSBC recently, said Emmett's leadership "will help make Libra's vision a reality."

Libra has been gearing up to launch its stablecoins with the recent high-profile appointments, including Steve Bunnell as chief legal officer and Sterling Daines as chief compliance officer.

The appointments follow the release of an updated white paper by the association and an application of the payment license from Switzerland's Financial Market Supervisory Authority (FINMA).