Facebook Unveils Cryptocurrency Libra in Bid to Reshape Finance

Facing continuing scrutiny of its privacy practices, Facebook introduced Libra in a manner that seemed intended in part to head off potential regulatory concerns. It said it is creating a subsidiary, called Calibra, that would be governed with the help of external partners, to ensure “the separation between social and financial data.” Calibra will offer a crypto wallet—a digital app that can be used to pay for items online and send money—using Libra.

Facebook on Tuesday named a series of corporate partners—including financial-services heavyweights Mastercard Inc. and PayPal Holdings Inc. and tech giants Uber Technologies Inc. and Spotify Technology SA —that it said would help it create a “secure, scalable and reliable” cryptocurrency. 

 

 

 

 


 

 

 

 

 

 

 

 

Find out more...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share on Facebook
Share on Twitter
Please reload

Featured Posts

Cost of Compliance Survey 2019: Nothing is certain except regulatory change

September 5, 2019

1/10
Please reload

Recent Posts