The Libra Association, led by the Facebook social media giant, has made an announcement on Wednesday. This announcement was regarding the hiring of one Saumya Bhavsar, who will serve as Libra Networks’ General Counsel. Libra Networks, in turn, stands as the payment system subsidiary for the Libra Association.

Libra Still Chugging Along

The ambitious cryptocurrency project of Facebook has been happening behind closed doors since its announcement and the massive scrutiny it received directly after.  Even so, the blockchain consortium that is the Libra Association has been actively onboarding a number of new members. Bhavsar stands as one of the numerous key hires that were made to strengthen the team overall.

With two decades of leadership experience, Bhavsar will bring regulatory, legal, and compliance field expertise within her new role. In a public statement, Bhavsar explained that they were thrilled to join up with the Libra Association, stating that the consortium is working towards a more inclusive global financial system.

An Extensive, Experienced Career

Prior to her appointment, Bhavsar had served Credit Suisse, standing as its Managing Director. Before that, she served as the firm’s Head of the data protection office.

Before her stint at Credit Suisse, Bhavsar had served 12 years at UBS, having joined up with the investment bank as the Litigation and Regulatory Investigation Division’s Executive Director. Later on, she became the Managing Director, overseeing the Americas’ legal department at first, before shifting to oversight of the US legal and wealth management strategic change.

Alongside this, Bhavsar had served at Euroclear, as well, doing so only for a few years.

Bhavsar had served in the banking sector, sure, but has a sizable amount of experience within the public sector, as well. She had served the Office of the Comptroller of the Currency, or OCC, for some time before her hiring as well.

Eager For Libra’s Innovations

Bhavsar gave a public statement about the matter, explaining that she had been keenly observing the Libra project for some time now, much like most within the banking sector.

As it stands now, Bhavsar is convinced that Libra stands ready to completely transform the payments industry, allowing for levels of financial inclusion and innovation that have yet to be seen before. She further added that this would come at a time where financial inclusion and innovation is needed the most, with the COVID-19 pandemic wreaking havoc across the global economic space.