On June 14th, it was reported that Facebook had gained the support of large firms to promote and implement their future cryptocurrency. Fb's alleged partners are Uber, PayPal, Mastercard, Visa and Booking.com. It is reported by The Wall Street Journal.
Before releasing cryptocurrency to the market, Facebook decided to enlist the support of large companies. According to the information, the above-mentioned firms will not only accept cryptocurrency from Fb, but also become investors of this asset.
As stated in The Wall Street Journal, the consortium of the future cryptocurrency includes more than a dozen companies, the exact names of which have not yet been disclosed. Entry investment for participation in the Consortium of ten million dollars and above.
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In addition, it became known that the Libra cryptocurrency exchange rate will not be tied to digital assets but will guarantee the stability of a basket of fiat funds on your Facebook account. According to the developers, this will help to avoid high volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details.
Also, in The Wall Street Journal it is said that Uber, PayPal, Mastercard, Visa, Booking.com companies will accept Libra stablecoin immediately after its launch. Thus, the cryptocurrency will immediately become an effective means for booking accommodation, paying for transportation services and will be stored on debit cards from Mastercard, Visa.
Cryptocurrency united Facebook company with Uber, PayPal and Mastercard. Recall that more than 100 employees of the company are working on the creation of stablecoin.
Editor: Godfrid Brower