Facebook is unveiling an ambitious plan to create a new digital currency and financial system to transform the way money moves around the world, and not just on its own apps. Facebook is leading a consortium creating a new digital currency called Libra. Partners include payments companies Visa, Stripe, PayPal and Mercado Pago, and that will help merchants accept Libra. Some tech companies are also on board, including eBay, Lyft, Uber, Spotify, and Latin American payments platform Mercado Pago. Facebook will also create a new subsidiary, Calibra, to build a digital wallet for people to store and exchange the currency using Facebook apps.
