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Facebook announces new global currency and digital wallet, will launch in 2020

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After many months of speculation, Facebook has announced its entry into the cryptocurrency and financial services market with a new digital wallet: Calibra. The wallet is still in the works and is likely to launch in 2020. It will be available in Messenger, WhatsApp, and even as a standalone app, the company revealed.

With Calibra, consumers will be able to use to save, send and spend Libra - a new blockchain-based global currency developed by Facebook. The Libra network has already received support from the likes of Visa, MasterCard, PayU, Stripe, eBay, Uber, Lyft, Spotify, and several others.

Venture Capital giants including Andreessen Horowitz, Thrive Capital,........

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