\r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\nThe CEO of the Coinbase UK has argued that centralized entities need to support the crypto industry. As per Zeeshan Feroz, he saw Facebook\u2019s Libra and CBDC issuance as the two ways to promote cryptocurrencies into the mainstream. Coinbase is among the members of the Libra Association, and the CEO reports to establish a sound system with the stablecoin. Feroz raises the stance of centralized businesses supporting the virtual coins\u2019 decentralized ecosystem.\r\n\r\nZeeshan Feroz, the UK CEO of Coinbase, suggests that the centralized existences must support the cryptocurrency ecosystem. In his interview with CNBC, Feroz stated that he expects the cryptocurrencies to go mainstream through the origination of Central Bank Digital Currency (CBDC) and Facebook\u2019s Libra.\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nThe Potential to be a form of payment\r\nCBDC\u2019s, the digital coins issued by the central banks, is a regulated government currency.\u00a0 \u00a0As per the CEO, these currencies, like the digital US dollar or GBP, could \u201ccatalyze adoption in a way that US geeks in silicon valley might not be able to.\u201d The second route he mentioned for virtual currencies ascend is the most uncertain crypto project, Facebook\u2019s Libra. Feroz said, \u201cwith the billions of users that they have, Libra as a currency has the potential to be a form of payment that is really universal in its nature. It\u2019s not going to be easy; you\u2019re challenging the status quo. we\u2019re at step one of a thousand step journey.\u201d\r\n\r\nWhen questioned whether a project such as Libra doesn\u2019t solely replace institutional and governmental control with a centralized corporate alternative, Feroz stated, \u201cTo transition from the world we\u2019re in today to that utopia, perhaps you need centralized entities, you need an on and off-ramp. You can\u2019t buy crypto if you don\u2019t have a centralized business that can maintain those relationships with banks.\u201d\r\n\r\nCoinbase is one of the twenty-one firms that are a part of the libra association. On Wednesday, Mark Zuckerberg broadly missed assuaging the lawmakers\u2019 concerns regarding his stablecoin.