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Facebook to Launch Libra, Its New Digital Currency, in 2020

The company has unveiled plans for a system designed to allow users to make quick payments via Messenger and WhatsApp.

Facebook has unveiled plans for its digital currency project, saying it plans to launch Libra as early as next year. According to a statement from Facebook, as of next year you will be able to buy Libra and store it in a digital wallet, which the company is calling Calibra. The statement said people will be able to make quick payments with the currency via Messenger, WhatsApp, and in the standalone Calibra app. “From the beginning, Calibra will let you send Libra to almost anyone with a smartphone, as easily and instantly as you might send a text message and at low to no cost,” said the statement. It will eventually allow users to pay bills “with the push of a button” and ride public transport. However, the company said it was “still early in the process of developing” the currency and didn’t name a specific launch date for 2020.