Facebook Registers New Fintech Firm in Switzerland

Facebook Registers New Fintech Firm in Switzerland

Social media giant Facebook has apparently formed a new financial tech firm, Libra Networks LLC, according to a filing on the Geneva Commercial Register.

Libra Networks was registered in Geneva on May 2 by Facebook Global Holdings II LLC. Per the official filing the firm provides:

“...services in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchainand other technologies.”

Facebook registered the trademark “Libra” with the United States Patent and Trademark Office back in June, which was reportedly part of its secretretive in-house crypto project. Facebook has also hired two cryptocurrency compliance experts who formerly worked at the major crypto exchange Coinbase as reported by Cointelegraph in May.

Anonymous sources have claimed that Facebook could release a native stablecoin some time in the third quarter of 2019.

At the recent crypto conference Consensus 2019, Polychain Capital CEO Olaf Carlson-Wee commented that he thinks the rumored stablecoin should be built on a public, open source infrastructure. Carlson-Wee thinks it would be in the self-interest of the company given recent controversies surrounding the social media platform:

“I think given all the problems that Facebook has had with policing their platform and things like that, I think that the strategic move for Facebook would actually be to build public infrastructure. And that public infrastructure could be incorporated onto all the Facebook platforms, which of course are proprietary. But that public infrastructure, if they don’t try to own it, I think that’s where they will have the most success.”

  • 46
Block
Add Reply
Feedback |

Support

Add Reply
expand

Sharing is caring

Add Reply
expand

Support you

Add Reply
expand

Nice sharing

Add Reply
expand

Good Morning

Add Reply
expand

Support

Add Reply
expand

Great~

Add Reply
expand

Come and support

Add Reply
expand

Come and support

Add Reply
expand

Come and mining

Add Reply
expand

Happy weekend

Add Reply
expand

Great sharing. 

Add Reply
expand

support~

Add Reply
expand

thanks for sharing.

Add Reply
expand

thanks

Add Reply
expand

support 

Add Reply
expand

mining 

Add Reply
expand

Mining Support

Add Reply
expand

Nice Sharing

Add Reply
expand

support

Add Reply
expand

Mine

Add Reply
expand

Come and Support

Add Reply
expand

Mining

Add Reply
expand

support

Add Reply
expand

mining

Add Reply
expand

good afternoon

Add Reply
expand

Great sharing. 

Add Reply
expand

Good evening         

Add Reply
expand

Mining   

Add Reply
expand
You should login to reply
You will reward to {{ username }}

Available Balance: {{balance}}

≈ $ {{usdtAmount.toFixed(2)}} (The reward commission rate is 10.0%)

New Favorite Bag

Add To Favorite You can create multiple favorites and classify the topics. Please select the favorites you want to add.
{{ favoriteBag.title }} {{ favoriteBag.favorites_count }}Topics

{{ text }} OK
fa-bars fa-arrow-up