The report said that “Facebook” plans to launch a payment system based on the encrypted currency in more than 10 countries by the first quarter of 2020, and begin to expand internationally later.
It expanded the company “Facebook” also to get advice from government agencies in the United States and UK with regard toopportunities and regulatory issues for the project.
The report said further details of Facebook’s plan to enter the crypto world are expected to be unveiled in the coming months.
According to the Financial Times , Facebook has negotiated with the Coinbase platform and the Gemini platform to provide users with an option to trade and store (hold) the “GlobalCoin”.
Some news also indicated that the company was looking into the possibility of establishing its own liquidity market after negotiating with Jump and DRW, one of Chicago’s largest trading firms.
The project aims to help billions of Facebook users convert money from one another and make purchases and shopping online. It should be noted that on May 2, the company registered a new entity called Libra Networks in Geneva, Switzerland, and will be the provider of financial and technical services and hardware and software development.
Please note, that is not a bit of financial advice nor the WhaleToBe team’s view