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.


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