Facebook’s Libra stablecoin was going to let anyone, anywhere, transact money over the internet. A basket of fiat currencies would ensure Libra’s price stability, while a group of 28 varied companies would oversee the project.
Libra users wouldn’t even need to have a Facebook account to send money, the social media giant revealed in 2019. Libra, it seemed at the time, had potential to reshape cross-border remittances and international commerce. Conceptually, it combined the promise of cryptocurrencies with the might of Facebook’s awesome social media network.
This feature is part of our “CoinDesk Turns 10” series looking back at seminal stories from crypto history. Libra is our choice of the most momentous story from 2019.
“There are two sets of work that we do on payments,” CEO Mark Zuckerberg
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