0
Broadband

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

Friday 14 June 2019 | 14:17 CET | News
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.

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

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

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Facebook's Libra Association names board of directors, staff

Published 15 Oct 2019 10:17 CET | World
Facebook's Libra Association said members have signed the Libra charter and has appointed a board of directors, namely Matthew ...

Facebook's Libra Project loses Visa, Mastercard, Stripe, Mercado Pago, eBay

Published 14 Oct 2019 09:16 CET | World | Update: 14 Oct 2019 10:01 CET
"Visa has decided not to join the Libra Association at this time," the company said in a statement. "We will continue to evaluate ...

PayPal absent from Facebook Libra cryptocurrency meeting - report

Published 06 Oct 2019 20:11 CET | World
The founding members of the Libra Association, partners that support Facebook's own currency plans based on blockchain, all met ...

EU anti-trust officials examining Facebook digital currency plans - report

Published 21 Aug 2019 11:43 CET | Europe
European anti-trust officials are investigating Facebook's Libra digital currency plans for potential anti-competitive behaviour, ...

Kenyan central bank criticises Facebook's plans for cryptocurrency

Published 22 Jul 2019 09:34 CET | Kenya
The Central Bank of Kenya (CBK) has joined growing global voices against Facebook's plan to launch cryptocurrency 2020, Business ...

Austrian, German financial regulators support introduction of rules to govern Facebook's Libra

Published 27 Jun 2019 09:16 CET | Austria
The Austrian financial supervisory authority (FMA) and the German financial supervisory authority (Bafin) support the ...

PayPal loses COO Ready

Published 21 Jun 2019 08:38 CET | World
PayPal Holdings announced that COO Bill Ready will leave the company at the end of 2019 to pursue entrepreneurial interests ...

US, European lawmakers, regulators call for scrutiny into Facebook's Libra currency project

Published 19 Jun 2019 09:16 CET | World
Facebook's Libra currency project has rattled lawmakers and regulators on both sides of the Atlantic. US lawmakers as well as ...

Facebook plans own mobile money wallet based on new Libra currency

Published 18 Jun 2019 11:29 CET | World
Facebook has released more details of its planned currency Libra. The first product will be a digital wallet designed to make it ...

Facebook talks with US Commodity Futures Trading Commission about digital currency plans

Published 03 Jun 2019 09:14 CET | World
Facebook is in talks with the US Commodity Futures Trading Commission (CFTC) to see if its plans for a digital currency would ...

Facebook planing to launch 'GlobalCoin' cryptocurrency in 2020

Published 24 May 2019 12:00 CET | World
Facebook is finalising plans to launch its own crypto-currency in 2020 and has already held talks with Bank of England governor ...

Facebook Messenger to end P2P money transfer service in France and UK

Published 16 Apr 2019 16:36 CET | Europe
Facebook issued a short statement on the forthcoming closure of its peer-to-peer money transfer service for Messenger users in ...

The 2018 of Amazon, Google and Facebook

Published 31 Dec 2018 15:46 CET | World
The internet services market revolved around three major issues in 2018: fake news, privacy and monopolies. We look here at the ...





Calendar   /   Industry Events

28 Oct World Radiocommunication Conference
12 Nov Dasan Zhone Q3 2019
12 Nov Vodafone fiscal H1
12 Nov United Internet Q3 2019
12 Nov 1&1 Drillisch Q3 2019
12 Nov Telkom fiscal H1
12 Nov Skyworks fiscal Q4
12 Nov INAP Q3 2019
12 Nov Infinera Q3 2019
12 Nov GTT Communications Q3 2019
12 Nov Iliad Q3 2019
12 Nov Wi-Fi NOW International
13 Nov Japan Display fiscal Q2
13 Nov Altice Europe Q3 2019
13 Nov Sunrise Q3 2019
13 Nov TIP Summit
13 Nov Cable Congress
13 Nov 5G Expo North America
14 Nov Ice Group Q3 2019
14 Nov Westell fiscal Q2
14 Nov Nvidia Q3
14 Nov Weibo Q3 2019
14 Nov Cisco fiscal Q1
14 Nov Bouygues Telecom Q3 2019
14 Nov Bharti Airtel fiscal Q2
14 Nov TDC Q3 2019
14 Nov Vodafone Idea fiscal Q2
14 Nov Telechoice Q3 2019
18 Nov Bezeq Q3 2019
18 Nov CRU World Optical Fiber & Cable Conference
::: More Calendar Items