British Bank Lobbyist Hired for GlobalCoin
Facebook has been transitioning into the Cryptocurrency space rapidly. Every few days there’s a new announcement as to what the company is doing. On June 14, 2019, it was revealed that Ed Bowles, a Lobbyist for British Banks, would be taking on the role of director for public policy at GlobalCoin.
Currently, Bowles holds the positions of Managing Director for Group, Public & Regulatory Affairs with the Standard Charted Bank. However, he will be leaving the company and starting his new job with Facebook-owned GlobalCoin in September. It’s not shocking that Facebook hired this man as he has an extensive portfolio of experience in the forex & banking industries. Back in 2007 he worked with the British Multinational Bank and spent twelve years of his career before that working with a forex trading firm in a leadership role.
Facebook is rumoured to be unveiling their cryptocurrency project in full on June 18, 2019. Ed Bowles will help implement new strategies with the help of public policy officials. These strategies are to support the growth of cryptocurrency in various regions worldwide.
GlobalCoin is the Future
This is the second high profile individual that’s been hired by Facebook to build up GlobalCoin. The Head of Global Public Policy Operations with GlobalCoin is Nick Clegg, the former Deputy Prime Minister of the United Kingdom. Additionally, Facebook also hired two experts in compliance that worked with Coinbase. It appears that they’re strengthening their team with the best in the industry, which potentially means that GlobalCoin will grow to outpace BTC and StableCoin.
There are some analysts in the industry that believe Facebook’s move into the forex & crypto market is ambitious. However, with the high profile names being hired and the significant company are backing Facebook. It seems that these analysts are more afraid of what’s to come, and then they are sceptical. For instance, Facebook has received significant donations from PayPal, Uber, MasterCard and Visa to continue the development of GlobalCoin.
Currently, Mark Zuckerberg, the CEO of GlobalCoin & Facebook, is in talks with both the Bank of England and the US Commodities Trading Commission. This will allow for the coin to be legally traded in two of the largest financial markets worldwide.