Facebook's Libra a 'good idea', but still too many unknowns: panellists

Singapore

FACEBOOK'S embattled digital currency Libra may have faced fierce pushback from the get-go, but its attempt to solve the cross-border payments problem is still cautiously welcomed by some central bankers and private players.

Libra is "a good idea" for developing countries, where remittance costs can go up to 30 per cent of the amount being transferred, said Serey Chea, assistant governor and director-general of central banking in the National Bank of Cambodia.