Pathways for Cryptocurrency as Facebook set to release Libra

Facebook plans to release its digital currency, Libra, in January, 2021 to offer a cross-platform payment system. Libra, which is still awaiting approval from FINMA (the Swiss-based Financial Market Supervisory Authority), seems to be more of a PayPal-type payment system that would be more volatile and accepted across multiple platforms for payment. The cryptocurrency would commence only in the United States and in some Latin American countries for a start, source says. It’s value will be backed by the US dollar, in the form of stablecoin. “A stablecoin is a…

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