GlobalCoin: Visa, Uber and others join the Facebook project

The commitment to GlobalCoin

Recently, Facebook Inc. has signed collaboration agreements with more than a dozen companies for the development of its new GlobalCoin cryptocurrency.

Among the companies allied to Facebook would be Visa Inc., Mastercard Inc., Paypal Holdings Inc. and Uber Technologies Inc.

The cryptocurrency, cryptoactive or digital asset that will be issued by Facebook would be announced in the coming days, as indicated CNBC.

Each of the companies behind GlobalCoin would invest close to 10 million in a foundation that will govern the digital currency.

Therefore, neither the Libra association nor Facebook will directly control GlobalCoin, according to the magazine The Wall Street Journal.

Likewise, the money collected will also be used to create the backing of the currency, which will be linked to a basket of fiduciary currencies.

Some members are also interested in using GobalCoin to expand their global reach, including the financial technology firm Stripe Inc. and the travel booking site.

Previously, The Crypto Legal reported about the Libra project through which Facebook has been working on its cryptocurrency.

The Global coin would be a stablecoin that would be anchored to the price of the American dollar.

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