Winklevoss twins, Tyler and Cameron, spoke during the CNBC interview held on July 9 that all four FANG companies intend to incorporate digital currency into their offerings.
The cofounders of Gemini — a cryptocurrency trading platform — said that other tech giants would soon follow suit in the way of Facebook Libra.
In case you are not aware, FANG is the acronym that denotes the four high-performing technology companies namely: Facebook, Amazon, Netflix, and Google— which most also recognize them as the internet’s unofficial “Big Four.”
Tyler told the news agency the following:
“Our prediction is every FANG company will have some sort of cryptocurrency project within the next two years.”
Various regulators, especially in the United States, have pressured developers to halt Libra— even when the project has not yet launched its payment protocol.
Cryptocurrency proponents have argued out that Libra has the potential to disrupt the banking system, and make the banking establishment to lose a lot of revenue.
At the time a U.S. lawmaker layout fresh concerns about the project, Bitcoin shed almost 10%. Regulators can curb any disruptive finance offering through front-door approaches according to the Winklevosses.
The brothers said they could make Libra to trade on Gemini if there were no prohibitive restrictions — however many see it as not a cryptocurrency.
“We’ll evaluate Libra in earnest, and it might actually be an asset that is one day listed if it’s an open protocol; that’s possible.”
A serial Bitcoin advocate Tom Lee, made a similar forecast earlier this week that describes the level of the tech giants’ involvement in the digital currency industry in the near future.
He confidently told CNBC that FANG companies would soon validate the digital money idea through creating their own digital currencies.