UNITED STATES (VOP TODAY NEWS) — Operator of the world’s largest social network Facebook Inc. will launch a new payment network based on its own cryptocurrency in the “dozen countries” in the first quarter of 2020, the BBC reports.
The publication claims that Facebook consults with representatives of the US Treasury Department and the Bank of England manager Marc Carney regarding the regulation of the initiative, code-named Libra.
At the same time, the Financial Times reported that Facebook is already in talks about listing GlobalCoin on the American exchanges Gemini and Coinbase. There is a certain irony in this, because the Winklevoss brothers, who own Gemini, in the past accused Mark Zuckerberg of stealing the idea of a social network and subsequently sued him for $ 65 million.
Sources of the publication said that Facebook is discussing with the trading firms Jump and DRW the prospects of market-making and liquidity.
Previously, the media claimed that the company is also in talks to support the initiative with Western Union, Visa and Mastercard.
Testing the network is supposedly scheduled for the third quarter of this year.
On May 2, Facebook registered Libra Networks in Geneva, Switzerland. Her profile involves the development of infrastructure and software, in particular, related to investment activities, payment transactions, financing, identity management, data analysis, Big Data, blockchain and other technologies.
This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.
Contact us: firstname.lastname@example.org
VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.
We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.