Indiaherald Group of Publishers P LIMITED

close save
crop image
Thu, Aug 22, 2019 | Last Updated 2:40 pm IST

Menu &Sections


Mark Zuckerberg expected to unveil Bitcoin rival Libra next week

Mark Zuckerberg expected to unveil Bitcoin rival Libra next week
Mark Zuckerberg expected to unveil Bitcoin rival Libra next week

Reportedly Social media giant Facebook has signed over a dozen companies, including some of the world's largest corporations like Visa Inc, Mastercard Inc, PayPal Holdings Inc. and Uber Technologies Inc, to back its crypto currency project, Libra, reported Wall Street Journal. Mark Zuckerberg led multinational company is expected to unveil Bitcoin rival Libra next week, while the official launch of the crypto currency is scheduled for 2020.

Mark Zuckerberg expected to unveil Bitcoin rival Libra next week

Before this, companies like MercadoLibre, an argentina based e-commerce platform; Stripe, US based payments technology company; and (a hotel booking platform) had also decided to support the Facebook-backed crypto currency. Reports suggest Facebook charged around $10 million from each of these backers to manage their node, a framework that'll enable them to manage the digital coin Libra.

It is believed that Facebook is eying around $1 billion worth of funding by taking these companies on board. Last year, Bloomberg had reported that Facebook was looking to create a 'stable coin' that will let the users of its social messaging platform, WhatsApp, transfer money to family and friends. Stable coins are crypto currencies pegged to the US Dollar and is designed to minimize the effects of price volatility. WhatsApp has more than 200 million users in india.

Mark Zuckerberg expected to unveil Bitcoin rival Libra next week
5/ 5 - (1 votes)
Add To Favourite
More from author
FORBEST LIST 2019 - The Rock tops the chart and the Only Indian actor to grab the 4th spot is...
Donald Trump once again proposed mediation in Kashmir matter
Bihar police rifles fail during salute to CM!
Will Social Media be linked with Aadhaar?
Will filing Income tax & GST return date is extended for J&K traders?
Jet Airways may go into liquidation
Amazon plans to take on Swiggy & Zomato
Cisco to ramp up India customer base to 1,00,000 by 2021
Delhi HC called P Chidambaram "kingpin i.e. key conspirator" in INX media case
SBI has an exposure of Rs.11,500 crore to Auto Dealers
Has anyone spotted Prabhas & Anushka these 2 years anywhere?
Apply for 2393 Posts in Southern Railway
Do Pawan Kalyan has idea of merging Janasena with any other Parties?
Will Karnataka get additional Rs. 4432 Crore as disaster hit from Centre?
Global Village Tech Park sold to US firm Blackstone by Coffee Day
Lemon has magical effects for skin care
Hyderabad Metro launches a Train every 4 mins during Peak Hours
Drop in sales of utility vehicles despite recent launch of new models XUV300 and Venue
Hike in price of Aavin Milk by Tamilnadu Govt
IAF helicopter rescued two men stranded on a pier of a bridge being constructed over Tawi River
Why Hero MotoCorp suspends manufacturing facilities?
Income tax officials able to use manual communication with assessee only in exceptional cases
Uttarakhand Police garnered 14.1K followers on TikTok so far
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional