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Back in June, David Marcus, head of the Facebook Libra project, had announced that Libra will be tied to a basket of low-risk securities and traditional, government-issued currencies such as the dollar, the euro, the pound, and the yen.
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Quick Take Here are 10 key things about Facebook’s new cryptocurrency, including: what the token is backed by, provisional privacy and regulatory structures, and tentative launch plans. After months of anticipation, Facebook has just unveiled its cryptocurrency, dubbed Libra.
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Facebook is finalising plans to launch its own crypto-currency next year. It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020.
Read more: https://bbc.in/2JF6MdG
Facebook’s long-rumored stablecoin will be at the center of a brand new payments network, according to a report in The Wall Street Journal. Project Libra, as the blockchain initiative is called internally, will reportedly involve a stablecoin backed by government currency.
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