Facebook's Cryptocurrency Firm 'Libra Networks'

By TigerTn | Crypto Talk | 19 May 2019

On May 2, 2019, Facebook Global registered its financial technology company "Libra Networks LLC" in Geneva, Switzerland. A filing in Geneva commercial register shows that Libra Networks LLc was established for the “provision of services in the fields of finance and technology, as well as the development and production of related software and infrastructure, particularly in connection with investment activities, the payment operation, the financing, identity management, data analysis, big data, blockchain and other technologies.”


With Libra Networks LLC, Facebook's stablecoin "FB coin" is going soon to be a reality. So whether this cryptocurrency is going to run on an existing blockchain or on a new one and whether the blockchain will be public or private, "This project could constitue a stepping stone in mass-adoption for cryptocurrency and other digital assets while constributing to the unbanking of the payment industry" as outlined by Binance Research report released on May 15, 2019.


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