It has been reported that Visa, Mastercard, Paypal and Uber are all backing Facebook’s new cryptocurrency.
According to a report by Wall Street Journal the social media giant was able to onboard more than a dozen backers for its GlobalCoin cryptocurrency, a Stablecoin that it has been secretly developing for more than six months.
Each of these backers will invest $10 million in the project as part of a governing consortium for the cryptocurrency.
It was also been revealed that Stripe, Booking.com and MercadoLibre will be part of the project but it was not clear specifically what roles these companies will be playing.
The soon-to-be-released Stablecoin will operate within the company’s messaging infrastructure which includes WhatsApp, Instagram and Facebook Messenger.
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Headlines for the world of Cryptocurrencies - June 13, 2019
- Metaco Now Offers Insurance For Crypto Assets
- Legal & General To Use AWS’ Blockchain Service
- Bitfinex Now Supporting OKEx Exchange’s Token And Stablecoin
- Ripple XRP Expands To Brazil
- Everex And Lao Development Bank Partners For Blockchain-Powered Cross Border Payments
Headlines for the world of Cryptocurrencies - June 12, 2019
- Litecoin Keeps Momentum Ahead Of Halvening
- Banking Giant In South Korea May Enter Crypto Market
- Coinbase Debit Card Now Available In Six European Countries
- Financial Action Task Force To Release Crypto Guidelines Soon
- Bitcoin Trading In Hong Kong At A Premium Due To Public Unrest
Headlines for the world of Cryptocurrencies - June 11, 2019
- The New Bitcoin Code Maintainer: Michael Ford
- In Pursuit Of The Purely Decentralized Exchange: dxDAO
- Bitcoin’s Lowest Denomination Becomes Even More Valuable Than Some National Currencies
- E-Commerce and Transport Giants In Japan Partners For Cashless Japan
- Litecoin New Developments You Should Know About
