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Uber, PayPal, Visa to Back Facebook’s GlobalCoin Cryptocurrency – Finance and Funding

Facebook’s new cryptocurrency, GlobalCoin, is backed by majors companies like Visa, Mastercard, PayPal and Uber. The backers are individually investing roughly $10 million in the project.

As reported by the Wall Street Journal on Thursday, Facebook has signed investment deals with more than a dozen companies, including Visa, MasterCard and Uber.According to the publication, Facebook has already been silently been working on the cryptocurrency for more than 6 months.

Globalcoin, which will be a stablecoin, will be unveiled next week and most likely launch next year.The Wall Street Journal furthermore stated that Stripe, booking.com, and MercadoLibre are going to be part of Facebook’s project. Specific details, however, have not been given in the report.

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