{"id":9601,"date":"2019-06-19T11:30:36","date_gmt":"2019-06-19T11:30:36","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=9601"},"modified":"2019-06-19T11:30:36","modified_gmt":"2019-06-19T11:30:36","slug":"facebook-to-launch-digital-wallet-for-libra-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/facebook-to-launch-digital-wallet-for-libra-cryptocurrency\/","title":{"rendered":"Facebook To Launch Digital Wallet For “Libra” Crypto"},"content":{"rendered":"

\"\"Facebook recently announced that it is taking steps to prepare for the launch of its new cryptocurrency Libra<\/a>. The company has been working on Libra for months now and has finally decided to release some official news to the general public.<\/p>\n

The latest news is that the social media giant will be launching a wallet for its Libra cryptocurrency called “Calibra<\/strong>“. It will function as a stand-alone app, though it will also be integrated into the FB Messenger app as well as WhatsApp and will be ready for use by 2020.<\/p>\n

The social media giant also released a statement on which demographic it will be targeting with its new Libra product. <\/p>\n

In a statement, Facebook said <\/p>\n

For many people around the world, even basic financial services are still out of reach. The cost of that exclusion is high \u2014 approximately 70% of small businesses in developing countries lack access to credit and $25 billion is lost by migrants every year through remittance fees. This is the challenge we\u2019re hoping to address with Calibra, a new digital wallet that you\u2019ll be able to use to save, send and spend Libra.<\/p><\/blockquote>\n

Remittances are a big earner for many companies, with billions of dollars in transaction fees being charged. Besides the statement, Facebook has also released a new video ad promoting Libra. It clearly wants to target markets that need better banking access \u2013 something which Libra can provide. <\/p>\n

CNBC Television<\/strong><\/p>\n

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