The biggest social network company Facebook has registered a new firm dealing with and payments in Geneva, according to popular outlet Reuters. The Swiss company is reported to be focused on data analytics and investments in particular.
Details of the Launch
On May 2, Libra Networks was officially registered in
, with Facebook Global Holdings as its owner. The newly-created firm aims at providing financial services and developing related hardware and software. The move obviously shows Facebook’s determination to become a leader on the and payments market as well.
Besides, it is interesting to notice, that the social media giant has also
two of ’s former compliance managers. Jeff Cartwright and Mikheil Moucharrafie have a great experience in AML (anti-money-laundering) consultancy and risk management for startups as well as for the US-based exchange, that accepts , , , and other .
US Authorities Demand More Info on FB Project
Facebook has been showing interest in financial technologies for a while now. Recently, the social network giant has softened its policy on
. Moreover, there have been plans on creating their own
. The application is planned to be installed into WhatsApp messenger and the Facebook team has been negotiating the partnership with processing services such as Mastercard and Visa.
Mark Zuckerberg has recently received an
from the Senate Banking Committee inquiring on the detailed information on FB and project Libra. The letter appeals to a number of legal, privacy, and regulatory aspects of the firm.
It also should be added, that Zuckerberg personally revealed his interest in the possibility of putting FB
on the . And it does not come as a surprise, that he obtained
concerning this idea from top experts.
Published at Mon, 20 May 2019 18:19:09 +0000
