Techcrunch is reporting that Facebook have revealed their new cryptocurrency, codenamed Libra, will be debuting on June 18; this is when they will release a white paper explaining the basics of Libra; the cryptocurrency will be a stablecoin, begged to a basket of currencies rather than a single currency like the U.S. dollar to prevent price fluctuations; Facebook has registered a company called Libra Networks in Switzerland; Facebook is working with merchants to accept the token as payment, and may offer sign-up bonuses. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.