Bank of England allows Facebook Libra account in London today

Facebook Libra has finally been able to acquire a bank account at Bank of England Threadneedle Street branch. The branch exclusively deals with commercial customers while the Bank of England is the first major bank to have a Libra account.

There have been multiple gossips before the launched of Facebook’s Libra venture. During that time, Caitlin Long made six forecasts out of which only has proven itself of being correct until today. She forecasted that Facebook might acquire exclusive pacts from state governments.

Presently media has reported that the Central Bank of England will let tech firms to bank at Threadneedle Street and present compensation arrangements. This facility was earlier open to commercial banks only. In her tweet, she stated that:

"TOLD YOU FACEBOOK WOULD GET A SPECIAL DEAL from govts. Very interesting development prob also benefits other #crypto start-ups. But they’re all pocketing the interest income—the corporate welfare for banks will now go to tech cos too." Read More at Cryptopolitan...

#Facebook #Libra #UK #Banks