×
App Icon
The Standard e-Paper
Kenya's Bold Newspaper
★★★★ - on Play Store
Download Now

Facebook takes on the world of cryptocurrency with 'Libra' coin

Facebook Libra
Facebook unveiled plans Tuesday for a new global cryptocurrency called Libra [Photo, Reuters]

Facebook unveiled plans Tuesday for a new global cryptocurrency called Libra, pledging to deliver a stable virtual money that lives on smartphones and could bring over a billion "unbanked" people into the financial system.

The Libra coin plan, backed by financial and nonprofit partners, represents an ambitious new initiative for the world's biggest social network with the potential to bring crypto-money out of the shadows and into the mainstream.

Get Full Access for Ksh299/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in