There will be 28 companies behind Facebook Libra.

There will be 28 companies behind Facebook Libra.

Spotify, eBay, Coinbase, Visa, Mercado Pago, among other companies will support cryptocurrency. Facebook hopes that in the future, many of these companies will integrate Libra into their payment systems.

Today, Facebook finally announced its cryptographic project: Libra. The founder of the most popular social media network, Mark Zuckerberg, revealed in a Facebook post the 28 companies that support the Libra project. In his statement, Zuckerberg said that Libra’s mission is “to create a simple global financial infrastructure that empowers billions of people around the world”.

Facebook aims to fulfill this mission through Libra, a Blockchain and cryptocurrency network that will be launched in 2020. The ad carries the logo of twenty-eight companies, including the newly created Calibra organization. Among the companies and partner institutions that came together to support Facebook in its cryptographic project are:
  1. World Bank Women
  2. Kiva
  3. Booking Holdings
  4. Andressen Horowitz
  5. Farfetch
  6. Iliad
  7. Mastercard
  8. Uber
  9. PayU
  10. Mercado Pago
  11. Coinbase
  12. PayPal
  13. Creative3
  14. Bison Trails
  15. Calibra
  16. Mercy Corps
  17. Vodafone
  18. United Square Ventures
  19. Ribbit Capital
  20. Thrive Capital
  21. Visa
  22. Lyft
  23. Stripe
  24. Ebay
  25. Spotify
  26. Anchorage
  27. Xapo
  28. Breakthrough Innovations

Calibra, the independent subsidiary.

Facebook is associated with the companies, of course. Meanwhile, to carry out the ambitious cryptographic project, the giant social network created Calibra, an independent associate subsidiary. This new company will be responsible for creating and providing services to send and use Facebook’s new cryptocurrency, Libra. In addition, Calibra will also develop a digital portfolio that will be available in WhatsApp and Messenger and as an independent application next year.

In the announcement, the founder also explained that Calibra will be regulated as other providers of payment services, and highlighted: Any information that you share with Calibra will be kept separate from the information you share on Facebook.

Facebook hopes that in the future many companies will build their own services using Libra:

From payment companies such as MasterCard, PayPal, PayU, Stripe and Visa, to popular services such as Booking, eBay, Farfetch, Lyft, Spotify and Uber, to non-profit organizations that do important work around financial inclusion like Kiva, Mercy Corps and Women’s World Banking, to companies in the cryptography space such as Anchorage, Coinbase, Xapo and Bison Trails.

A number of Venture’s leading companies are also joining Facebook to help drive innovation in the Libra network. The social networking giant revealed that, for next year, they expect to have more than 100 co-founders of the Libra Association by the time the network is launched.

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