ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Residential demand upbeat despite construction cost, interest rate rise; brokerage picks DLF, Oberoi Realty among top 4 bets
  • Copper Set to Post Worst Quarterly Performance in Over 2 Years
  • Maruti Suzuki Brezza 2022: Launch today! Check key highlights; live streaming link here
  • Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more
  • Ratnamani Metals bonus share: Stock jumps 15%, hits 52-week high ahead of record date
Read in App
Business News » Companies News

Facebook's cryptocurrency-based payments system gets big backers

Facebook Inc has enlisted more than a dozen companies including Visa Inc, Mastercard Inc, PayPal Holdings Inc and Uber Technologies Inc to back its new cryptocurrency, the Wall Street Journal reported.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Facebook's cryptocurrency-based payments system gets big backers
Each company will invest around $10 million in a consortium that will govern the cryptocurrency, the WSJ reported, citing people familiar with the matter. Photo: Reuters

Facebook Inc has enlisted more than a dozen companies including Visa Inc, Mastercard Inc, PayPal Holdings Inc and Uber Technologies Inc to back its new cryptocurrency, the Wall Street Journal reported on Thursday.

Each company will invest around $10 million in a consortium that will govern the cryptocurrency, the WSJ reported, citing people familiar with the matter.

The money will fund the creation of the coin, which will be pegged to a basket of government-issued currencies, the report said.

Facebook, Mastercard, Paypal, Visa and Uber did not immediately respond to requests for comment.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Facebookcryptocurrency
Written By: Reuters
Updated: Fri, Jun 14, 2019
06:27 am
New Delhi, Reuters
RELATED NEWS
Facebook testing new ways to organise, quickly access Groups Facebook testing new ways to organise, quickly access Groups
Meta to let you purchase your avatar's outfit through online store Meta to let you purchase your avatar's outfit through online store

LATEST NEWS

Active Covid caseload in India crosses 1L-mark after 4 months

PNB Housing Fin to seek shareholders' nod next month to raise Rs 12,000 crore in debt

GST Council Meeting Outcome: Big boost for Rakesh Jhunjhunwala's stock as sewage treated water gets exemption from GST

Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?

FIIs monthly selling highest since November 2020, but is it nearing exhaustion? Details

Residential demand upbeat despite rise in construction cost, interest rate, says brokerage; picks DLF, Oberoi Realty among top 4 bets

Closing Bell: Nifty below 15,800, Sensex ends flat; Metal, IT, auto stocks top losers

Uddhav Thackeray quits as Maharashtra CM - Know what he said in webcast

Toyota India set to unveil Toyota Hyryder tomorrow, Check details here

Lay-offs rise as stagflation worries mount; Zee Business' research explains impact

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV