Facebook set to launch digital currency in 2020

Project Libra unveiled

clock • 1 min read

Facebook has revealed it is looking into launching its own digital currency as early as the first quarter of 2020.

According to Financial Times sources, who are familiar with the social media network's secretive 'Libra' project, Facebook is in the final stages of launching a 'stablecoin', a digital currency pegged to the US dollar. BBC Business meanwhile reported the currency was being labelled 'GlobalCoin' internally. If the plans are implemented, Facebook's two billion users could allow payments or transfers within the family of apps, including Messenger. The cryptocurrency being explored in Project Libra would need to be a collaborative network with payment specialists; founder of Facebook Mark...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

Dynamic Planner CEO on AI's role in 'trusted advice'

Dynamic Planner CEO on AI's role in 'trusted advice'

‘The challenge is that delivering advice is hard’

Isabel Baxter
clock 09 December 2025 • 6 min read
FCA reveals first group of financial firms to take part in AI testing

FCA reveals first group of financial firms to take part in AI testing

To deploy ‘safe and responsible’ AI

Cristian Angeloni
clock 03 December 2025 • 1 min read
Providers have 'clear role' to help advice firms with AI governance support

Providers have 'clear role' to help advice firms with AI governance support

Less than 5% of advisers have a full AI policy

Isabel Baxter
clock 02 December 2025 • 3 min read