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Facebook's cryptocurrency backed by PayPal, Visa, Mastercard, Uber - report

Friday 14 June 2019 | 14:17 CET | News

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Facebook has secured major industry backing for its forthcoming cryptocurrency project, according to unnamed sources cited by the Wall Street Journal. Over a dozen companies including PayPal, Visa, Mastercard and Uber will invest around USD 10 million each in the social network's Project Libra, said the report. Additional investors cited include Latin American e-commerce giant MercadoLibre, financial technology firm Stripe and Booking.com, all of which are part of a consortium set up to govern the digital coin, said the sources.

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Categories: Internet / Mobile & Wireless
Companies: Facebook / MasterCard / MercadoLibre / PayPal / Uber / Visa
Countries: World
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