Facebook plans to reveal their crypto plans next week and now they count a group of impressive backers to support the effort; Visa Inc., Mastercard Inc., PayPal and Uber have all agreed to provide $10mn to help govern the coin in a consortium; Facebook declined to comment but will soon release their plans and still have talks ongoing with additional partners; Libra, as the project is named, will be pegged to government issued currencies to avoid issues that have hurt other cryptocurrencies with significant volatility in price. Source.
