It has been reported that Facebook as recently revealed the list of global currencies that it plans to back the Libra cryptocurrency.
Libra will largely be backed by the currency of the world’s largest economy, the United States of America which will be receiving 50% backing from cash and short-term Treasury bonds.
Other currencies in the Libra basket include Euro with constitute 18%, Japanese yen 14%, British Pound 11%, and the Singapore Dollar 7%.
It is notable that the currency of the world’s second-largest economy is not included in the currency basket of Libra so not do stoke additional concerns about the project which already has been under intense scrutiny from policymakers and regulators.
Headlines for the world of Cryptocurrencies - September 22, 2019
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Cisco And SingularityNet Partners For Decentralized Artificial Intelligence
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Premier Swiss Stock Exchange Launches Prototype For Digital Assets Exchange
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OKEx To Launch Tether Margin Futures In October
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Facebook Acquires ChatBot Maker SeviceFriend
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Lithuanian Retail Giant To Sell Bitcoin
Headlines for the world of Cryptocurrencies - September 21, 2019
- One Of South Korean Biggest Conglomerates To Use Blockchain For Music Copyright
- Analyst Predicts Launch Of Bakkt Will Improve Trust Of Cryptos
- Bank Of America Is The Latest Member Of R3’s Marco Polo Blockchain Network
- Major Crypto Listing On Coinbase Soon
- Hong Kong Billionaire Enters Crypto Space
Headlines for the world of Cryptocurrencies - September 20, 2019
- Zuckerberg In Capitol Hill To Win Over U.S. Policymakers
- North Korea To Create Its Own Cryptocurrency
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Abra Now Allows Users To Buy Bitcoin In 7-Eleven Outlets
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1,000 New Miners From Publicly-Listed Mining Firm
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Arab Bank Switzerland Now Offers Crypto Custody And Brokerage Services
Wow, they honestly left out China...
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