In its effort for world dominance, Facebook, Inc. (NASDAQ:FB) is now going to add a new cryptocurrency, Libra, to its company. This means the social media giant is now officially looking to become a world bank of sorts, and that holds huge implications, both for FB stock and for the cryptocurrency market.
So what is Libra?
The new cryptocurrency, which was just announced by Facebook, will be publicly available by 2020. It will be operated by Calibra, a newly formed subsidiary of Facebook, with the goal to, “provide financial services that will let people access and participate in the Libra network.”.
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