Visa, Mastercard, Uber and PayPal invest in Facebook cryptocurrency

Posted 14 June, 2019

On the eve of the announcement of the cryptocurrency of the social network Facebook, the future Facebook token (Libra or GlobalCoin) reportedly managed to get support from the world economic leaders including Visa, Mastercard, PayPal, and Uber.

The media platform of Mark Zuckerberg has already been backed by more than ten large organizations, with each of then intending to invest in the Libra/GlobalCoin project about $10 million on average. The funds will be used to finance the maintenance and operation of the stable coin, which will be pegged to the national currency. Such a step will help to avoid the high volatility inherent in traditional cryptocurrencies, as the anonymous sources noted.

According to the media reports, neither Facebook nor the governing agency of the Libra/GlobalCoin Association will be involved in the control of the token. Notably, there are rumours that some members of the consortium do not fully understand the principles of how the Libra token may work.

The Fintech company Stripe, the online booking platform for hotels and MercadoLibre, an analogue of eBay in Latin America, also became part of the project. Their role in promoting Libra is not yet clear.


Previous story

14 June, 2019 11:45

← Binance announces new trading platform in USA

One of the leading cryptocurrency exchanges – Binance – announced the launch of its new trading platform in the USA via cooperation with BAM Trading Services. The company published the report in its blog on the official website in which it informed about the partnership with BAM Trading Services.

Binance announces new trading platform in USA

Next story

13 June, 2019 16:50 shortens list of coins available for US users →

The Chinese cryptocurrency exchange is going to suspend trading of 19 virtual currencies, including Ripple (XRP) and EOS, which are in the top 10 in terms of market capitalization for USA traders. Following a major US company Bittrex, Gate Exchange seeks to avoid problems with US regulators regarding the listing of cryptocurrencies “suspected” of being classified as securities. shortens list of coins available for US users
Write a comment
Prove you’re not a bot + 12 = 22