Social media giant Facebook has recently unveiled the Libra association which will operate its bespoke cryptocurrency Libra that is set to launch on June 18, 2019.
The Libra Association will be composed of blockchain and traditional companies coming from various industries and will be based out of Geneva with the primary aim of overseeing Facebook’s Libra cryptocurrency project.
The Libra crypto asset will be hosted on a dedicated Libra Blockchain and backed by the Libra reserve, real assets that will ensure its stability, low inflation, global acceptance and fungibility.
The project was also reported to be open-source under the Apache 2.0 license and aims to help people without access to the financial system.
To ensure its success Facebook stats that it intends to focus on regulatory compliance stating that collaborating and innovating with the financial sector, regulators and experts across a variety of industries is the only way to ensure a sustainable, secure and trusted framework.
Read more of today's Headlines! Click here
Headlines for the world of Cryptocurrencies - June 14, 2019
- GlobalCoin Getting Support From Major Companies
- Chainlink Price Moons Amid Google’s Blog Post
- Bakkt Begins User Acceptance Testing
- Increasing Italian Interest On Bitcoin
- Binance Launching US Exchange
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
