RATE Group | All you need to know about Facebook’s cryptocurrency Libra – LIBRA
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All you need to know about Facebook’s cryptocurrency Libra – LIBRA

24 Oct All you need to know about Facebook’s cryptocurrency Libra – LIBRA

Posted at 07:46h in Cryptocurrency News by

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Individuals and merchants will be able to use Calibra to store, send and receive Libras.

It will be available as a standalone app on smartphones, as well as a button within Facebook’s Messenger and WhatsApp products.

Facebook eventually wants to make Calibra available for transactions across its family of apps, such as digital checkouts for purchases on Instagram.

The company appears to be betting it can squeeze revenue out of its messaging services through transactions and payments, something that is already happening on Chinese social apps like WeChat.

Executives envision users purchasing Libra through the app either by linking a bank account or, for people without banks, at physical locations like cash transfer businesses and convenience stores.

Calibra engineers are involved in building the blockchain, though Facebook says it intends to keep the currency and the wallet in separate entities.

Calibra has about 100 employees, mostly based at Facebook’s headquarters in Menlo Park,…

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