Friday, June 14, 2019

Business: Facebook's Libra Coin Proves A Very Popular "Sign"

Facebook has signed up more than a dozen companies including Visa, Mastercard, PayPal and Uber to back the new cryptocurrency that the social-media giant plans to unveil next week and launch next year. The companies will invest around $10 million each in a consortium that will govern the digital coin, called Libra. The money will be used to fund the creation of the coin, which will be pegged to a basket of government-issued currencies to avoid wild swings. The secretive project revolves around a digital coin that users could send to each other and use to make purchases.

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