Saga launches stablecoin / SEC chair speaks about Libra / Arianna Simpson thinks Libra can rival WeChat

Inside Libra presented by CARIUMA.

Presented by Subscribe | View in browser 1. Saga Monetary Technologies has launched its SGA stablecoin, which it hopes will answer global regulators' concerns regarding stablecoin projects, namely Facebook's Libra. Visualized last year by the Saga Foundation, the SGA token will initially be pegged to a number of fiat currencies such as the dollar, euro, renminbi, pound sterling and yen, which will ensure the stablecoin's price. Speaking about the token, Ido Sadeh Man, founder and chair at the Saga Foundation, stated that tokens will come into being as people buy into it, with smart contracts issuing new tokens to meet demand; excess tokens will be burnt as holders sell them back. Over time, though, as users put more of their trust into the SGA stablecoin, the aim is for it to move away from the fiat currencies to become unpegged. However, because of the regulatory environment in the U.S., Man said they have chosen to not allow people in the U.S. to onboard onto its platform at the moment. –COIN DESK       2. Jay Clayton, chair of the U.S. Securities and Exchange Commission (SEC), has testified before the U.S. Senate Committee to address issues relating to the crypto space, including Libra. Explaining that the SEC has taken a "measured, yet proactive regulatory approach" to address areas such as innovation while keeping investors and the market in mind, Clayton stated that the distributed ledger technology (DLT) can help provide "promising investment opportunities for both institutional and Main Street investors." Turning his attention to Libra, Clayton added that "it's here, [and] we should not go around it." –AMB CRYPTO       A MESSAGE FROM GEORGETOWN UNIVERSITY Earn a Certificate in Product Management from Georgetown University in just six weeks. In today's fast-paced environment, where needs constantly change, understanding customer needs at multiple points is critical to a product's success. That's where well trained product managers come in. Georgetown has launched a six-week Certificate in Product Management to prepare professionals to fill this growing need. Visit Georgetown's website to learn more.     3. In this opinion piece, Arianna Simpson, founder of Autonomous Partners, an investment fund focused on cryptocurrencies and digital assets, states that Facebook's Libra could transform into a rival of China's WeChat. According to Simpson, the vast majority of consumer commerce runs on WeChat. Considering it started as a simple chat app, it is now used for much more. Simpson adds that "most of the rest of the world lacks this kind of fully integrated experience" and the key to offering it is scale, something she believes Facebook has. Going further, Simpson notes that when initially integrated into Whatsapp and Messenger – likely also Instagram – "[Libra] could instantly be ready for use by billions." –WIRED       4. Facebook has set up a second Libra unit in Geneva. Libra Networks II was established in the Swiss federal business directory and comes despite the project facing tough opposition from global regulators about its proposed plans. The second unit's goal is to provide "services in the fields of finance, technology as well as the production of software and related infrastructure" associated with the blockchain and big data. Facebook is planning to launch its Libra stablecoin in 2020 but has stated that it won't launch until all regulatory concerns have first been addressed and it has received U.S. regulatory approval. –BLOOMBERG LAW       A MESSAGE FROM CARIUMA Cariuma is sneaker brand you need to know about TIme to replace your old shoes? 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His statement came in response to a question about Libra, which he said: "in no way can this be used for terrorist financing." –COINTELEGRAPH       7. According to this top 10 post focusing on blockchain predictions for 2020, Facebook's Libra will launch but it will have limited functionality. The post goes on to state that the stablecoin won't be the "payment rails and onboarding vehicle" it originally promised but will demonstrate signs of progress. –FORBES       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter.         Ad Order your pair of CARIUMA shoes today and get 10% off with code MyFirstPair!

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