A top Facebook executive has said the tech giant’s proposed libra cryptocurrency won’t go viral like a social media platform and will take decades to roll out.
But Weil seemed optimistic on the interest among other companies in joining Libra. "18 months ago, this was an idea," he said. "Today we have 21 fantastic committed organisations that are members of the Libra Association; a bunch more that are looking to be involved. So expect that number to continue to grow."
Weil said that the libra token would address the pain currently involved in sending money abroad, claiming the average fee for remittances comes in at about 7% of the total transaction amount.
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