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Why is facebook calling their crypto currency libra

Why is facebook calling their crypto currency libra

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Facebook also could use its for more than 2 billion people to make purchases from.

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Understanding Facebook's Cryptocurrency Libra
Facebook wants its new cryptocoin, Libra, to become a "global currency." But crypto investors and watchdogs have big concerns. On June 18, , Facebook announced Libra. It is a virtual currency, or cryptocurrency, though some people don't agree with that definition. Facebook says its motivation for making libra is primarily as a service to the developing world and the parts of the developed world where it's.

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Lawmakers have begun actively pressuring members of the Libra Association, the international blockchain payments project led by Facebook , to reconsider their involvement with the group. Facebook announced Libra, a new cryptocurrency, Tuesday morning. This morning , Facebook announced an ambitious new cryptocurrency called Libra, to be managed by an association of tech and finance companies including Facebook alongside more conventional banking companies like Visa and Mastercard.