Facebook is getting set to launch its Libra cryptocurrency and has released some details. Most notably, Libra will enable people to send money with zero fees, allowing the currency users access to purchase Libra online or at local stores. It can be spent either using a third party wallet app or Facebook's Calibra wallet which is integrated into Facebook Messenger and WhatsApp. Calabria will be a company launched by the social media giant to handle its cryptocurrency.
Libra cryptocurrency will not be fully controlled by Facebook but the company will be a voting member within the organization. Other members will include Uber, Bisa and Andreessen Horwitz, each of which has made a minimum $10 Million USD investment in the new cryptocurrency.
Image Credit: Facebook/ Calabria