Facebook’s cryptocurrency based payments system gets big backers: WSJ
Each company will invest around $10 million in a consortium that will govern the cryptocurrency, the WSJ reported, citing people familiar with the matter. The money will fund the creation of the coin, which will be pegged to a basket of government-issued currencies, the report said.
Facebook said it will not track passwords or account IDs and it will periodically remind people that the app is collecting their data. (AP)
Facebook Inc has enlisted more than a dozen companies including Visa Inc, Mastercard Inc , PayPal Holdings Inc and Uber Technologies Inc to back its new cryptocurrency, the Wall Street Journal reported on Thursday.
Each company will invest around $10 million in a consortium that will govern the cryptocurrency, the WSJ reported, citing people familiar with the matter. The money will fund the creation of the coin, which will be pegged to a basket of government-issued currencies, the report said.
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