Facebook has reportedly set up a fintech company dubbed Libra Networks in Switzerland. The move clearly correlates with the social media giant’s Project Libra.
据报道Facebook已经在瑞士开了一家名为Libra Networks的金融科技公司,这一举动明显与这家社交网络巨头的天秤座计划有关。

The focus of the fintech is on the blockchain, payments, data analytics, and investing.

Libra Networks, which was registered in Geneva on May 2, will provide financial and technology services. Also in its wheelhouse will be developing related hardware and software.
Libra Networks公司于5月2日在日内瓦注册成立,将提供资金和技术服务,其核心机构也将开发相关的硬件和软件。

Famed investor Michael Novogratz recently called Project Libra “stunningly important” to the crypto space.
知名投资者Michael Novogratz最近说天秤座计划对这个加密领域“极其重要”。

Given Facebook’s history of boasting about its projects, you’d think it would be bragging about Project Libra. That’s not the case. The Switzerland move was done with no fanfare such as company press releases or blog posts. This seems to be the way Facebook has chosen to roll out its Project Libra.


It’s keeping close to the chest even where the project will be launched. In December, it hinted at plans to set up shop in India. Early reports suggest Zuckerberg’s cryptocurrency will facilitate overseas remittance payments for Indian WhatsApp users.

Facebook launched Project Libra more than a year ago to allow money transfers between WhatsApp users. Over time, however, the scope of the project has expanded. That includes the decision to include e-commerce payments on Facebook and other websites as well as rewards for viewing ads, shopping online, and interacting with content.

When all is done, Facebook hopes to have a stablecoin that is pegged to the value of a local currency.