Facebook Registers Libra in Geneva, Switzerland

Facebook is preparing for its cryptocurrency project, Libra, and has registered the Libra Network in Geneva, Switzerland and submitted financial and technical information. 

According to a recent report by Reuters, Facebook has registered a new company in Geneva and submitted financial data, technology services, software and hardware development, and development plans. Earlier, various media reported that Facebook intends to issue stablecoins, which will be used in its communication and social platforms Messenger, Whatsapp, and Instagram.

At the same time, Facebook reportedly is communicating with exchanges to allow this new cryptocurrency to be traded as early as the first half of this year. Previously, the company also continuously employed relevant talent in the blockchain industry, including blockchain engineers and marketing.

Many large-scale social platforms around the world are studying how to apply blockchain technology to their businesses. LINE has already launched its own LINK token, which allows users to use DApps in LINE’s blockchain ecosystem, or to pay for it in e-commerce in the future