Skip to content
Subscriber Only

Facebook Could Be for Crypto What AOL Was for Internet Adoption

  • Consumers, traders may park their savings in new stablecoin
  • Use in commerce could be tougher for Libra to pull off
Bloomberg business news
Facebook's New Libra Cryptocurrency to Have Over 100 Launch Partners

Facebook Inc., a centralized corporate giant with a history of customer data use controversies, is an unlikely candidate for bringing cryptocurrencies to the masses.

Yet many digital-assets enthusiasts are now hanging their hopes on the company’s new digital coin succeeding where Bitcoin has not. Facebook said on Tuesday it will launch the token, called Libra, next year in partnership with finance and technology heavyweights including Visa Inc. and Uber Technologies Inc.