Libra – Facebook’s cryptocurrency

The tech giant Facebook has announced the details of its cryptocurrency, Libra. This feature allows you to buy things or transfer money with nearly zero fees.

Libra cannot be actually termed as a product of Facebook alone. It is supported by the Geneva, Switzerland-based Libra Association, a non-profit organization with a long list of founding members who will jointly make decisions over Libra.

Apart from Facebook, the list has Mastercard, Visa, PayPal, Stripe, eBay, Uber, Lyft, Spotify, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Mercy Corps, and Women’s World Banking.

Libra is a stable coin. It is a special type of cryptocurrency that remains fairly stable compared to the value of another fairly stable real-world asset, such as the U.S. dollar.

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