Rumors confirmed: Facebook launches payment method on 18 June

facebook libra

According to rumors, the American company would launch more details on Libra, its new currency, on 18 June. Would you use Facebook as a payment method?

Finally! Facebook is releasing a white paper on 18 June with all the explanations about its new payment method. There have been rumors for quite some time that Libra, the code word for Facebook’s cryptocoin, would be launched. A source told TechCrunch.

But that is not everything. In the meantime, a financial woman at Facebook would have told a German magazine “WirtschaftsWoche” that the white paper will indeed be released on June 18.

Payment method Libra

It was already known for some time that the American company would come out with a payment method. But now there is a date and a name on it. Libra could make it much easier for Facebook to join the e-commerce cart and thereby allow transactions at lower rates. Libra is also intended primarily for countries where the national currency has no stable value. In addition, as a WhatsApp or Messenger user you can transfer money to each other quickly and easily.

However, Facebook is an internet service and not a bank. The question is how Europe will respond to this and whether the company will therefore have to act as a bank. But Facebook would manage this payment method entirely through a separate foundation to shake off a number of rules and regulators.

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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