Facebook edges towards digital currency with rebranded wallet
Facebook has renamed its digital wallet Novi as it takes another incremental step forward with its Libra digital currency.
Facebook has renamed its digital wallet Novi as it takes another incremental step forward with its Libra digital currency.
The Libra Association has entered into the first phase of the payment system licensing process, but its global plans have been replaced with several, localised stablecoins.
Vodafone has withdrawn from Facebook’s digital currency initiative Libra, as regulators and bureaucrats circle overhead.
Facebook’s Libra cryptocurrency has received almost universal push-back since its announcement, so now it’s looking for ways to placate its critics.
Visa and Mastercard are among a group of partners in Facebook’s Libra cryptocurrency venture to decide the whole thing is too risky.
Internet financial services giant PayPal is the first member of the Libra coalition to jump ship and probably won’t be the last.
The French Finance Minister has said he will block Facebook’s plans to launch a global cryptocurrency, citing its threat to monetary sovereignty.
Like cockroaches scattering from the light, bankers are reportedly high-tailing it away from Facebook’s venture into cryptocurrency.
Not many people understand the complexities of cryptocurrency and an alarming number of people don’t trust Facebook; it seems combining the two is not a well-received idea.
In a testimony before the US Senate Facebook indicated its Libra cryptocurrency will run from Switzerland, but it forgot to ask the Swiss if that was OK.
As threatened a couple of weeks ago, the House Financial Services Committee has called for Facebook to halt its cryptocurrency plans.
The announcement of a new currency led by Facebook has caught the attention of US law-makers and not in a good way.
Social media giant Facebook has announced the launch of Libra, a ‘stablecoin’ apparently designed to revolutionise the digital payments market.
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