Monday , August 15 2022

Tasks: Facebook is investing heavily in new crypto money


We have written in front of how Facebook is developing crypto money. Previous information has focused on how the currency will enable Whatsapp users to send money together free of charge but also more risk-free as the money is linked to the dollar or any currency another big.

Wall Street Journal now reports that Facebook plans are much wider than that. The newspaper claims that Project Libra, called the project in-house, has been under development for over a year now and is intended not only for private transfers but will be a system. new payment that can be used by websites to accept payments for products and services. Challenge to Paypal, Klarna and similar companies like that.

Facebook has already started negotiating with major stores and is said to be pursuing just under 10K SEK in investments by companies such as Visa and Mastercard to deliver the service.

With two billion Facebook users and over 1.5 billion on Whatsapp, Facebook has a large audience who can use the payment service without having to install any new apps or get new accounts.

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