GlobalCoin: New Reports About Facebook's Cryptocurrency

3 min reading
Facebook Coin, Facebook, kryptowaluty, bitcoin, stablecoin, tokeneo
According to the report of BBC, Facebook is going to introduce its own cryptocurrency called GlobalCoin in 2020. The social media giant intends to begin testing the new payment system by the end of this year.

Reports on GlobalCoin

On Friday BBC announced that Facebook plans to launch a cryptocurrency-based payment system. This project is said to include a dozen or so countries. The new payment system is to be created by the first quarter of 2020, and Facebook intends to start testing it by the end of this year. The new cryptocurrency will be called GlobalCoin and will be based on fiat money which is accepted by the central bank and can be treated as a medium of exchange

Facebook looks for support

More details on Facebook's GlobalCoin will be revealed in the upcoming months. Facebook representatives held talks with US Treasury officials and the Governor of the Bank of England - Mark Carney. They wanted to consult on the possibilities and regulatory issues for their initiative.
A few steps forward
Facebook also talks with payment companies, including Western Union, Visa and Mastercard, in order to receive support and funding for the cryptocurrency. In the last month, it was reported that Facebook could try to raise as much as $1 billion to finance the coin. It is being said that GlobalCoin will help billions of Facebook users to transfer their money and make purchases online.
Libra project
The project aiming to introduce Global Coin is internally referred to as the Libra Project. On May 2, Facebook registered a new entity called Libra Networks in Geneva, which will "provide financial and technological services and develop related equipment and software".
Currency Exchange rate Buy cryptocurrency

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.