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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

FACEBOOK INC

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Facebook cryptocurrency Libra to launch as early as January but scaled back

11/27/2020 | 05:00am EST
FILE PHOTO: FILE PHOTO: Facebook logos

LONDON (Reuters) - Facebook's Libra cryptocurrency is readying to launch as early as January, the Financial Times reported on Friday, citing three unidentified people involved in the project.

The Geneva-based Libra Association that will issue and govern Libra plans to launch a single digital coin backed by the dollar, the FT said, citing one of the people.

The move would represent an even bigger scaling-back of the project's ambitions than that proposed in April in response to a regulatory and political backlash against the project.

Libra, unveiled by Facebook Inc last year, was relaunched in slimmed-down form after regulators and central banks across the world raised concerns it could upset financial stability and erode mainstream power over money.

The Libra Association, of which Facebook is one of 27 members, is seeking the go-ahead from Switzerland's markets watchdog to issue a series of stablecoins backed by individual traditional currencies, as well as a token based on the currency-pegged stablecoins.

Yet under the body's new plan, other coins backed by traditional currencies, as well as the composite, would be introduced at a later date, the FT said.

The Libra Association did not immediately reply to a request for comment. FINMA, the Swiss regulator, did not elaborate beyond a statement in April confirming receipt of Libra's application for a payments licence.

Stablecoins are designed to avoid the volatility typical of cryptocurrencies such as bitcoin, making them in theory more suitable for payments and money transfers.

(Reporting by Tom Wilson in London and Brenna Hughes Neghaiwi in Zurich; Editing by Robert Birsel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO 5.03% 26916.435 Real-time Quote.14.02%
BITCOIN - UNITED STATES DOLLAR 4.99% 32723.415 Real-time Quote.13.27%
FACEBOOK INC 0.60% 274.5 Delayed Quote.0.49%
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Financials (USD)
Sales 2020 83 785 M - -
Net income 2020 27 084 M - -
Net cash 2020 60 362 M - -
P/E ratio 2020 29,2x
Yield 2020 -
Capitalization 782 B 782 B -
EV / Sales 2020 8,61x
EV / Sales 2021 6,76x
Nbr of Employees 56 653
Free-Float 83,8%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Average target price 321,73 $
Last Close Price 274,50 $
Spread / Highest target 36,6%
Spread / Average Target 17,2%
Spread / Lowest Target -29,0%
EPS Revisions
Managers and Directors
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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