Home / Facebook / A new financial tech firm, Libra Networks, has been formed by Facebook on 2nd of May

A new financial tech firm, Libra Networks, has been formed by Facebook on 2nd of May

While Facebook has been on enormous crypto news for its coin since quite long, another news regarding Facebook came along quite recently.

According to a filing on the Geneva Commercial Register, a new financial tech firm called Libra Networks LLC, has been formed by Facebook.

Now as far as the registration is concerned, the Libra Networks was registered in Geneva on 2nd of May by Facebook Global Holdings. Moreover the official filing the firm provides the following:

“any kind of services that comes under the field of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.”

Whereas the trademark “Libra” was registered by Facebook with the United Patent as well as Trademark office in late June 2018. Moreover, as per the sources, it was revealed that Facebook also hired two cryptocurrency compliance experts who formerly worked at the major crypto exchange Coinbase.

As far as the views of the Polychain Capital CEO, Carlson-Wee, are concerned, he firmly believes that this rumored stable coin should be built on an open source infrastructure. While speaking at the crypto conference Consensus 2019, he further said:

“I think given all the problems that Facebook has had with policing their platform and things like that, I think that the strategic move for Facebook would actually be to build public infrastructure. And that public infrastructure could be incorporated into all the Facebook platforms, which of course are proprietary. But that public infrastructure, if they don’t try to own it, I think that’s where they will have the most success.”

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About Zaryab Afser

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A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

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