Update: Facebook subsidiary Calibra to introduce digital wallet for new digital currency

Slated for 2020 launch

Emanuela Hawker
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Facebook's proposed currency would need to overcome regulatory hurdles
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Facebook's proposed currency would need to overcome regulatory hurdles

Facebook has announced new subsidiary Calibra will introduce a digital wallet for the planned digital currency Libra, which will be available in 2020.

Through Calibra, Facebook has announced its users will be able to save, send and spend Libra using Facebook Messenger, WhatsApp or the standalone app through its use of blockchain technology.  According to Facebook, 1.7 billion people around the world - 31% of the global adult population - remain unbanked, which suggests there is a large market for a scalable digital currency.  So far 28 groups have announced they will become backers of Libra and each founding partner will be expected to contribute a minimum of $10m to kick-start the project, according to the Financial Times. Other...

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