Facebook previews Libra cryptocurrency, could launch platform as early as 2020

On Tuesday, Facebook offered a first look at its forthcoming Libra cryptocurrency.

The company stated that the service could launch as early as 2020, and is centered around connecting users who lack access to traditional banking platforms.

The platform, which could take advantage of the close to 2.4 billion people using Facebook each month, could serve as a huge moneymaker for Facebook, arriving as the company’s growth has slowed.

Technology to make transactions with Libra will be available as a standalone app, alongside functionality on the WhatsApp and Facebook Messenger platforms in 2020. It will allow consumers to send money to each other as well as potentially pay for goods and services using the Facebook-backed digital currency instead of their local currency.

Stay tuned for additional details as they become available.

Via The Mac Observer and The Guardian