Facebook Coin gains backers in VISA, Mastercard, and Paypal

Facebook’s crypto project gained three big backers today in VISA, Mastercard, and Paypal and thus becoming a bigger threat in the remittance industry than I had originally expected. Each of these backers will contribute $10 million to the project and make up part of a governing consortium to the coin. If Facebook coin gets integrated into VISA, Mastercard, and Paypal’s network, it could end up taking a large chunk of the money transfer market.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s