Facebook unveils new ‘currency’

Mark Zuckerberg
Mark Zuckerberg
Anthony Quintano

Facebook has unveiled a new means of payment called Libra, which it describes as a “global currency” with the potential to “reinvent money”.

Neither a true currency nor bearing all the hallmarks of a typical crypto asset, Libra will run on a system similar to a blockchain, without being decentralised in the same way as most crypto assets. It will be backed by a “reserve” of liquid assets.

Libra will be governed by an organisation called the “Libra Association”, based in Geneva, which claims to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account