Curren­cy is backed by more than a dozen major compan­iesFacebook has partnered with ‘more than a dozen’ major companies before the announcement of its crypto-currency, Libra, next week. The companies, which Facebook took onboard, include Visa, MasterCard Uber and Booking.com among others. Facebook to unveil new versions of Portal video chat devicesAccording to the report published in The Wall Street Journal, Facebook requires at least $10 million from each of its partners to create Libra. But, neither Facebook nor the partners would directly control the crypto-currency. If it follows through, Facebook users would be able to use Libra for transactions on the social network.

Source: The Express Tribune June 18, 2019 08:48 UTC