Facebook is getting into cryptocurrency.
The social media giant announced Libra, their own type of cryptocurrency similar to Bitcoin. Facebook has some pretty impressive partners for its new venture. Visa, Mastercard, Uber, PayPal and Spotify all plan to be apart of Libra when it's up and running in about 12 months.
Facebook's digital wallet for Libra will be called Calibra. Facebook says their cryptocurrency will give users the ability to spend across all borders without incurring fees. Facebook, however, is still in hot water with several governments throughout the world over its privacy policies.
Courtesy: YouTube