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Digital Currency of ​Facebook gets the support of 12 huge companies

2019-06-14 11:57 am | Resource: News Section | No Views : 73

Digital Currency of ​Facebook gets the support of 12 huge companies Facebook team has won support from more than 12 companies in the digital currency project of the social networking site, the Wall Street Journal reported on Thursday (June 13th).
Twelve finance companies, including Visa, MasterCard, PayPal and Ober, have joined in to support the digital currency, which will be unveiled soon, possibly this month, as confirmed by some press reports.
Companies - spanning the sectors of finance, e-commerce, venture capital and telecommunications - each invested about $ 10 million in consortium will govern the next digital code for Facebook, Libra said.
Wall Street Journal sources reiterated the details of the highly secretive project, especially that the expected crypto of the social media giant would be a stable fixed currency linked to a basket of national currency to avoid price fluctuations.
The talks are continuing with some investment partners, the sources claimed, and the final list of the members of the union could change. The consortium itself is known as the Libra Association.
The report claimed that many members expressed concern that Facebook's token could be used for money laundering or terrorist financing.
WSJ reports that Facebook and individual members of the consortium will not be controlled, although some members can run the contract on the network of the online payments network, according to sources familiar with the matter.
In addition to the above-mentioned companies, Fintech Stripe, and the MercadoLibre e-commerce site all signed the project, according to several sources. The consortium members were allegedly asked to sign up for the crypto white paper that is to be published on June 18.
Rumors of Facebook's plans to merge the digital currency of WhatsApp users first surfaced in December 2018, with more details about the secret project that began in February. In May of this year, Facebook reportedly received the Libra brand, That there are about 100 people working in the project, with more than 40 data cards for the workforce still open.

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