The Wall Street Journal: Visa, Mastercard and PayPal Invest in Facebook Cryptocurrency

The Wall Street Journal: Visa, Mastercard and PayPal Invest in Facebook Cryptocurrency

According to the article The Wall Street Journal, Facebook’s upcoming cryptocurrency project, attracted the attention of three payment giants.

Visa, Mastercard and PayPal intend to support the development of Facebook cryptocurrency along with other companies, including Uber. The source reports that the amount of investment in the fund each is about $10 million.

Neither Libra nor Facebook will directly control the coin, so it is not clear what will be the mechanism of work, and what is the role of these companies in the project. By assumption, the token can be used for payments in the messaging application.

It is expected that Facebook will publish the white paper of its coin with specific details in the near future. The company also announced the creation of new jobs in the blockchain division, the total number of which reached 28.

The giant of social networks is rapidly advancing in the launch of GlobalCoin. Testing will be launched at the end of this year.

Read more on the topic:

Facebook’s GlobalCoin Cryptocurrency will be Released Next Year

As interest in the coin grows, a research conducted by LendEDU shows that cryptocurrency will be able to attract new users to the space. Although it has not been without those who doubt the success of the upcoming cryptocurrency project.

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