Major payment companies back out of Facebook’s Libra cryptocurrency

Back in June, Facebook announced that it was going to launch its own cryptocurrency – Libra. The news resulted in the classic mixed results. Some focused on the fact that it would change the financial shape of markets where bank accounts and traditional payments systems are not the norm. Some, notably the FT, picked apart its […]

Questions and criticism emerge for Facebook’s Libra currency

Facebook launching its own global currency was bound to provoke some criticism, and some close scrutiny of exactly what the social network is planning and how it will work. Three pieces are worth your attention today to understand how the initiative – backed by Spotify, as we reported earlier in the week – is being […]

Spotify explains why it’s backing Facebook’s Libra cryptocurrency

The recent leaks were correct: music-streaming Spotify is on board as one of the first backers of Facebook’s new Libra cryptocurrency. The social network will launch a cryptocurrency called Libra in 2020, complete with a wallet developed by the company’s new Calibra subsidiary. And backing all this is The Libra Association, which Facebook says will […]

Report claims Spotify is backing Facebook’s new cryptocurrency

Facebook has quietly (bar the odd leak) been working on its own cryptocurrency initiative for some time now. Reports suggest it will be announced tomorrow (Tuesday 17 June), complete with a consortium of partners offering governance for Facebook’s new coin, called The Libra Association. The Wall Street Journal broke the news that financial firms including […]

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