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Huawei CEO thinks China has more power than Facebook when it comes to issuing cryptocurrencies

Celia Wan

The CEO of Huawei, China’s largest smartphone manufacturer, said that China should issue cryptocurrencies, in a recent interview he had with several Italian media outlets. 

During the interview, Italian journalist Fabio Savelli asked Ren whether he thought the launch of Facebook’s cryptocurrency project Libra is a sign that the U.S. tech giant is trying to maintain its world dominance, along with the U.S. government. 

CEO Zhengfei Ren responded that “China can also issue a similar currency [like Libra]. Why wait for someone else to issue it? A nation’s power is greater than that of an internet company.” 

Meanwhile, Ren’s Huawei has been actively seeking opportunities in the blockchain technology for years.

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