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Facebook is finally ready to reveal details regarding its cryptocurrency codenamed Libra. It’s presently scheduled for a June 18th release of a white paper explaining its cryptocurrency’s basics, according to a source who says multiple investors briefed on the project by Facebook were told that date.
Meanwhile, the company’s Head of financial Services & Payment Partnerships for northern Europe Laura McCracken told German magazine WirtschaftsWoche‘s Sebastian Kirsch that the white paper would debut June 18th, and that the cryptocurrency would indeed be pegged to a basket of currencies instead of a single one like the U.S.A. dollar to prevent price fluctuations. Kirsch tells me “I met Laura at Money2020 Europe in Amsterdam on Tuesday” after she watched fellow Facebook payments exec Paulette Rowe’s talk.
“She told me that she wasn’t involved in what David Marcus’ [Facebook Blockchain] team was doing. However, I’d have to wait till June 18th once a whitepaper was supposed to be revealed to get more details.” She told him she thought the date was already a publicly known truth, which it wasn’t.Continue reading “Facebook plans June 18th cryptocurrency debut. Here’s what we know.”