Monday, July 14, 2025
  • Login
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
No Result
View All Result

Facebook: Libra is a Payment Tool, Not An Investment Tool

Fenda Agustina by Fenda Agustina
6 years ago
in Finance News

The head of Facebook’s Cryptocurrency, David Marcus, state that the crypto currency which was given by Libra was not an investment tool, such as stocks and bonds.

According to cnbc.com, Libra is a payment instrument capable of reaching more than 90 million Small and Medium Enterprises. People will use it to send money to family members in other countries, or to make purchases.

This assertion is to dampen fears of many parties after a series of privacy scandals tarnished public confidence in Facebook in recent years. Moreover, many emerging frauds from illegal financial technology.

The man who joined Facebook since 2014 also does not expect the crypto currency project he is developing will soon make money for the company.

RelatedArticle

How Distrust in Banks is Hindering the Fintech Revolution

Profits of 5 Global Banks High Despite ECB Rate Cut

Global Cryptocurrency Tax Pt. 2

Cryptocurrency Advertisements Shut Out by Bing

The purpose of Libra

He and his company will focus on their first goal to create utilities. He said that our first goal was to create utility and adoption. Allows people around the world, especially those without bank accounts (underbanked), to take part in the financial ecosystem.

In addition, Marcus also ensures that Facebook Inc. will not share any customer accounts and all financial information. Thus, there’s no need to worry about your personal information. Libra is safe and will work adequately with governments and currencies around the world.

Previously, policymakers had been skeptical since Facebook announced Libra last June. Fed Chair Jerome Powell said Libra would cause serious problems. “Libra raises serious concerns about privacy, money laundering, consumer protection, and financial stability,” said Jerome Powell recently.

In response, Marcus stated that Facebook is not alone in operating the Libra so as to minimize any crime. Facebook has collaborated with 27 payment companies, including Visa, Stripe, Paypal, and several technology companies such as eBay, Lyft, Uber, and Spotify.

Instead of worrying about it, Libra will actually help increase Facebook transactions and benefit many people. They hope that Libra digital wallets will benefit Facebook more broadly. Because it allows more than 90 million Small and Medium Enterprises to use the Facebook platform to transact more directly with many Facebook users.

Read more: Facebook Launces Redesign on Privacy and Groups

Tags: Digital WalletFacebookInvestmentLibra
Fenda Agustina

Fenda Agustina

"An investment in knowledge pays the best interest." - Benjamin Franklin

Related Posts

How Distrust in Banks is Hindering the Fintech Revolution

role of fintech in transforming financial services, over-trading biggest mistake. distrust in banks hindering fintech
by oney
October 23, 2024

Introduction The fintech revolution promised to transform the financial industry, offering innovative solutions and improved access to financial services. However,...

Read more

Profits of 5 Global Banks High Despite ECB Rate Cut

central bank policy decisions, profits of global banks
by oney
October 22, 2024

Introduction Despite the recent rate cut by the European Central Bank (ECB), the profits of five major global banks are...

Read more

Global Cryptocurrency Tax Pt. 2

role of stablecoins in the crypto ecosystem, diversify your crypto portfolio, how to use a Forex economic calendar. Cryptocurrency Advertisement tax global
by oney
October 5, 2024

After the crypto tax system in South Korea, US. and UK. in the first part of this article, here are the taxes...

Read more

Cryptocurrency Advertisements Shut Out by Bing

role of stablecoins in the crypto ecosystem, diversify your crypto portfolio, how to use a Forex economic calendar. Cryptocurrency Advertisement tax global
by oney
October 3, 2024

Microsoft’s search engine platform, Bing, on January 25, 2019, said it had blocked more than 5 million cryptocurrency advertisements. Before...

Read more
Load More
Next Post

Klook: From Inconvenience to a Success

Trending Issues

  • China’s Debt to GDP Ratio Reached 300% in 2023

    0 shares
    Share 0 Tweet 0
  • Cristiano Ronaldo and His 6 Successful Businesses

    0 shares
    Share 0 Tweet 0
  • Is Miniso Japanese or Chinese?

    0 shares
    Share 0 Tweet 0
  • The Differences between Technical Analysis and Fundamental Analysis

    0 shares
    Share 0 Tweet 0
  • Wicked! PS5 Broker Group Uncovered

    0 shares
    Share 0 Tweet 0

Get the latest market news and trading tips to your inbox daily, subscribe now !

Topic

  • Asia News
  • Asia Trade
  • Bonus+Promotions
  • Broker News
  • Business News
  • Cryptocurrency
  • Currency Analysis
  • Finance News
  • Forex & Market
  • Forex Tips
  • Hot News
  • Investment Tips
  • Learn to Trade
  • Market Analysis
  • Politics Issue
  • Reviews
  • Social Media
  • Stock Analysis
  • Stock Market
  • Stock Trading Tips
  • Technical Analysis
  • Tips
  • trading strategy
Go Trading Asia

Go Trading Asia covers the latest in Business and Economic News and Market Analysis, with the aim of Providing Readers with the knowledge and tools to make better informed financial decisions.

  • Contact us
  • Privacy Policy
  • Disclaimer

© 2021 Go Trading Asia.

No Result
View All Result
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us

© 2021 Go Trading Asia.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In