FACEBOOK, JPMORGAN, MITSUBISHI UFG. WHO ELSE LAUNCHES THEIR OWN CRYPTOCURRENCY?

Posted 13 August, 2020

In the summer of 2019, Mark Zuckerberg's social network announced the development of the Libra project. After that, many large companies announced similar plans.

 

Facebook

 

On June 18, 2019 Facebook announced Libra cryptocurrency, Libra investment Token and Calibra digital wallet. The project’s launch data was set for the first half of 2020, but development was suspended due to criticism from financial regulators.

 

JPMorgan

 

Last year, JPMorgan was preparing to release its JPM Coin, but that never happened. The coin has been called the “XRP killer” as it has the same goals. The advent of JPM Coin was supposed to make payments faster and cheaper.

 

Goldman Sachs

 

Immediately following Facebook’s announcement last year, Goldman Sachs said it could follow the path of JPMorgan, which is creating the JPM Coin token. The head of Goldman Sachs called stablecoins the future of the payments industry.

 

Mitsubishi UFG

 

In the second half of 2020, the Mitsubishi UFG financial group will release its own cryptocurrency. Users will be able to pay for purchases using MUFG Coin and transfer money. The token rate will be equal to one yen.

 

Sberbank

 

Sberbank may issue token, the rate of which will be pegged to the ruble quotes. It will become a settlement tool for transactions with other digital financial assets. The company clarified that the decision to develop the asset will be made in the near future.

 

Google, Amazon, Netflix

 

Last year, the billionaire Winklevoss brothers said it was only a matter of time before the launch of cryptocurrencies from companies in the FANG group (Facebook, Amazon, Netflix And Google). The Winklevoss speculated that corporate digital money would be introduced before the summer of 2021.

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