Facebook’s New Cryptocurrency, Libra, Gets Big Backers

Facebook’s New Cryptocurrency, Libra, Gets Big Backers

Visa, Mastercard, PayPal and Uber are among firms that will invest around $10 million each in consortium that will govern digital coin

Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Uber Technologies Inc. to back a new cryptocurrency it plans to unveil next week and launch next year.

The financial and e-commerce companies, venture capitalists and telecommunications firms will invest around $10 million each in a consortium that will govern the digital coin, called Libra, according to people familiar with the matter. The money would be used to fund the creation of the coin, which will…

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