Uber, MasterCard, Visa and PayPal to Invest in Facebook Coin

Jun 14, 2019 04:41&nbspUTC

| Updated:

Jun 14, 2019 at 04:41&nbspUTC

By&nbspRushali Shome

According to reports by the Wall Street Journal, Facebook Inc., has brought on board over a dozen major backers for its highly secretive cryptocurrency project. Apparently, biggies like Visa, MasterCard, PayPal and Uber have all joined the consortium of investors providing funding to the project.

Each of these companies, numbering more than 12, will invest roughly 10 million dollars towards a consortium put in place to oversee the crypto project.

You May Also Read: It Would Be A Mistake To Trust Facebook’s Native Cryptocurrency

Reports that have already emerged about the crypto project suggest that this coin will be similar to a stablecoin, and will be pegged to a whole set of fiat…

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