Facebook set to launch digital currency in 2020

Project Libra unveiled

clock • 1 min read

Facebook has revealed it is looking into launching its own digital currency as early as the first quarter of 2020.

According to Financial Times sources, who are familiar with the social media network's secretive 'Libra' project, Facebook is in the final stages of launching a 'stablecoin', a digital currency pegged to the US dollar. BBC Business meanwhile reported the currency was being labelled 'GlobalCoin' internally. If the plans are implemented, Facebook's two billion users could allow payments or transfers within the family of apps, including Messenger. The cryptocurrency being explored in Project Libra would need to be a collaborative network with payment specialists; founder of Facebook Mark...

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