Facebook has plans to launch cryptocurrency this month, reported in an article by The Information.
Its token is called GlobalCoin.
Reuters reported that Facebook registered a new company called Libra Networks in Geneva, Switzerland. Its cryptocurrency will allow Facebook users to transfer money across borders as well as make online purchases. And it might also be offered to Facebook employees who want to be paid in the cryptocurrency.
Other tech giants to make a move into cryptocurrency include Yahoo, which owns 40 percent in the Japanese crypto exchange Taotao, and Amazon, which has purchased crypto domains.
