Facebook to Launch New Cryptocurrency ‘Libra’

Facebook today has announced the launch of a new cryptocurrency called Libra. This cryptocurrency integrates with popular apps such as WhatsApp and Messenger to make the transfer of the money as simple as sending a text message!

Libra is actually the creation of a non-profit association by the same name which is made up of 28 different organizations around the world that includes Mastercard, PayPal, Visa, Spotify, eBay, and Uber.

It means that Facebook alone won’t have rights to operate Libra, but it has an equal share in doing it with other 28 members of Libra association in Switzerland.

Bringing together partners from different industries and locations is a key to offer a decentralized digital currency, the Libra association said.

Apart from Libra, Facebook has also launched a new service called Calibra, which serves as a digital wallet for storing, sending and receiving currency at low to no cost!