Facebook May Pegged With Cryptocurrency Stablecoins

According to a recent announcement made by Facebook on its Libra currency said that a new initiative could use the cryptocurrencies based on national currencies same like dollar in place of the synthetic one that they have proposed before.

According to David Marcus a lead at Libra Project stated in a banking seminar that their goal remains the same that is to created a more efficient payment system but they were looking to the other alternative approach for the currency token.

With this Marcus continued, “We could do it differently,” he said. “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stable coin, etc,”.

Seeing the previous month setback of the firm which included the major payment companies MasterCard. Inc and Visa. Inc  to quit the group from its project.