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Facebook has only just revealed its far-reaching cryptocurrency plans, but Libra is already prompting global financial institutions to take action.

Central banks are reportedly becoming more interested in the idea of creating their own digital currencies following Facebook’s Libra reveal, as evidenced by new comments from the head of the Bank for International Settlements (BIS).

Many central banks are working on it; we are working on it, supporting them. And it might be that it is sooner than we think that there is a market and we need to be able to provide central bank digital currencies,” Carstens said in a new interview with the Financial Times.

The first is that Facebook’s approach, which ties Libra’s value to established world currencies — what’s known as a stablecoin.

The fact that powerful central banks are taking it seriously enough to start openly discussing the possibility of their own digital currencies underscores just how much Facebook is already influencing the traditional banking system.