The Libra Association announced Wednesday (May 6, 2020), that Stuart Levey would be joining the Facebook-created consortium, as their first Chief Executive Officer (CEO).

Levey has extensive background experience in the regulatory and government sector; most notably, his experience includes:

• Serving the U.S. government as Under Secretary of the Treasury for Terrorism and Financial Intelligence 
• Overseeing sanctions enforcement through the U.S. Office of Foreign Asset Control and anti-money laundering regulations through the Financial Crimes Enforcement Network (FinCEN)
• Serving as the Chief Legal Officer at HSBC since 2012

With this type of experience under his belt, Levey will be overseeing the Libra Association's efforts to "combine technology innovation with a robust compliance and regulatory framework."

Speaking on his new role, Levey said in a statement:

"I am honored to join the Libra Association as it charts a bold path forward to harness the power of technology to transform the global payments landscape. Technology provides us with the opportunity to make it easier for individuals and businesses to send and receive money, and to empower more than a billion people who have been left on the sidelines of the financial system, all with robust controls to detect and deter illicit financial activity."

Levey’s joining of the Libra project is just one of many public announcements from the Libra Association recently. Facebook’s consortium has been adding new members left, right and center, with their most recent addition being global nonprofit Heifer International and ecommerce site Checkout.com.