Facebook’s Project Libra Sets Up Shop in Switzerland

Facebook’s Project Libra Sets Up Shop in Switzerland

The secretive cryptocurrency project from Facebook has officially registered itself as a new company in Geneva, Switzerland.

Project Libra, which is the codename for the so-called FaceCoin, is gradually shaping into a bigger reality. It was previously reported last week that the coin was just months away from its launch in India, for users of Whatsapp. Although they had trademarked the name Libra back in June, its registration is a major step towards becoming a fully-fledged article.

While the full details of the coin still remain murky, according to the official filing, Libra provides services in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.”

However, it is not all plain sailing for Zuckerberg and Co, as they were called into question last week by the US Senators, who want more details about the project.

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