Libra Networks: Facebook’s Weapon to Launch its Stablecoin?

By Henry Chan   May 22, 2019 1 Min Read

Libra facebook feature-min.jpg

Facebook recently launched a Fintech firm – Libra Networks LLC in Geneva on 2 May, the filing on the Geneva Commercial Register revealed.

Facebook had been registered the name “Libra” back in June with the United States Patent and Trademark Office. There has been report  from a source familiar with the matter that Facebook is currently working on a cryptocurrency project in building a full payment system with other payment giants such as Visa and Mastercard. This secretive project is in the possibility of launching a stablecoin called Libra.

According to the official filing, Libra Networks offers the following services “in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.”

Thumbnail image credit: Shutterstock

 





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