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Facebook Working on its Own Cryptocurrency in Switzerland
May 22, 2019
According to a CNET report, Facebook is building its own cryptocurrency in Switzerland with a fintech company called Libra Networks. The company is developing Blockchain and payment systems for the social media giant.
The report which is based on the information provided by Swiss publication Handelszeitung said that the Facebook cryptocurrency will be linked to the US dollar which is why it’s likely to be stable, unlike Bitcoin which has had its share of massive pricing fluctuations. However, Facebook itself hasn’t made any official statement on the matter yet.
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