Facebook Blockchain, Fintech Plans Accelerate: Libra Networks Launched in Switzerland6

Previous reporting has pegged Facebook’s cryptocurrency initiative as being codenamed “Project Libra.” The effort’s accordingly been shrouded in secrecy to date … until now.

That’s because the project has just risen from the shadows. The Silicon Valley social media powerhouse turned to fintech-friendly Switzerland earlier this month to register Libra Networks, a subsidiary firm that will encompass the Facebook’s newfound blockchain and fintech payments, data, and investing services.

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