Social media giant Facebook has unveiled plans to launch a new digital currency, called Libra, next year. Facebook said Libra would be independently-managed and backed by real assets, and that paying with it would be as easy as texting. According to Facebook, from next year you will be able to buy Libra via its platforms and store it in a digital wallet called Calibra. Facebook stressed Libra would be managed independently by a group of companies and charities - of which Facebook is just one - called the Libra Association. Facebook also said it expected Libra would be bought and sold on currency markets in the future.

Source: The Star June 18, 2019 10:30 UTC