How Libra Would Work for You - News Summed Up

How Libra Would Work for You


Calibra intends to build other services on top of Libra, including, eventually, financial services like lending and investing. Every time someone buys Libra, that money will be deposited into a bank account where it will sit untouched, so that every dollar’s or euro’s worth of Libra will be backed by a dollar or euro in the bank, according to the Libra design documents. Facebook and other companies that have created Libra wallets can encourage new customers by giving them a small number of Libra to get started. You will also be able to buy Libra by transferring money from a bank account or debit card. If Libra works as intended, once customers own Libra, they will be able to send them to any other business or person with a Libra wallet, anywhere in the world.


Source: International New York Times June 18, 2019 09:00 UTC



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