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June 14 - 08:06
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Big names back Facebook's cryptocurrency
Facebook has received significant external backing for its upcoming cryptocurrency venture, according to reports. More than 12 firms, including Visa, Mastercard, Paypal and Uber, are to each invest $10 million as part of a consortium. The money will fund the creation of the coin, which is likely to be called 'Libra'. It will initially be tied to national fiat currencies to avoid price volatility.
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