Facebook’s Crypto Backed by Visa, PayPal, and Uber; Whitepaper Due in Days

In the lead up to Facebook’s official cryptocurrency reveal, the social media titan has signed up gigantic backers for its “Project Libra” as well hiring senior UK bank lobbyist, Ed Bowels.

This, according to reports from The Wall Street Journal (WSJ) on June 13, 2019, and the Financial Times. In addition, a recent report from CNBC states that sources expect the white paper to release on June 18, 2019.

Game Changer

As per the WSJ, Facebook’s anticipated cryptocurrency has received the backing of “more than a dozen” industry players including heavyweights such as Paypal Holdings, Mastercard, Uber, and Visa.

Reportedly, these firms are to invest approximately $10 million each as part of the coins governing consortium. It is reported that those who invest will be network…

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