• Facebook Libra Networks will reportedly deal with Blockchain and payments, but Facebook is yet to make a public statement about its intentions

 

facebook
Social media behemothFacebookregistered a crypto-oriented company called Libra Networks in Switzerland, Reutersreports. Still, Facebook is acting coy about its crypto ambitions despite numerous speculations about the forthcoming rollout of its dollar-pegged cryptocurrency.

Facebook

<>

A new fintech firm

Switzerland was the most obvious choice for Facebook since Zug’s “Crypto Valley” is not as known as one of the biggest tech hubs in the world that attracts major Blockchain-centered companies.

Facebook didn’t comment on the matter, but the statues of Libra Networksshowsthat the company will provide financial services and develop related software.

Apart from Blockchain and cryptocurrency payments, Facebook-owned Libra Networks will deal with data analytics, investing, and identity management.

‘Facebook

The “Libra” mystery

 Meanwhile, Facebook continues to quietly ramp up its crypto efforts. One of the most valuable companies in the world recently hired two former Coinbase compliance officers.

Mikheil Moucharrafie, who parted ways with the Bitcoin unicorn back in April,landedthe same job on Facebook’s Blockchain team. His colleague Jeff Cartwright alsobecamea policy and compliance manager at Facebook after five years with Coinbase.

Prior to that, the WSJ revealed that Facebook was cooperating with ‘dozens’ of financial firms and online merchants in order to launch its dollar-pegged stablecoin.

The company’s secretive cryptocurrency project, which is known under the codename “Project Libra,” even becamea matter of concernfor the U.S. Senate Banking Committee.

Disclosure: Opportunistic fraudsters are taking advantage of this market, offering investments in cryptocurrencies and doing everything they can to defraud unsuspecting victims, Anyone who invests in cryptocurrencies should thoroughly research the company they are choosing to invest with to avoid scams.

Click on the link to invest and start earning today: The Most Trusted Crypto Company

Please kindly share on all Social Media Platforms. Thanks

Categories: Crypto

Leave a Reply

Your email address will not be published. Required fields are marked *