Libra Crumbles As Facebook Launches Its Alternative Payments Platform

As you could see from our previous Libra coin news, most of the regulatory scrutiny towards cryptocurrencies has been geared at mostly one coin – the upcoming Facebook Libra stablecoin which is expected to launch in 2020. In the latest updates, we can see that Libra crumbles before the launch of the alternative payments platform, Facebook Pay.

In fact, we can see that the social media giant is now scrambling to launch this platform and that the major economies from the world do not like the company’s plans on crypto domination with its own centralized digital coin (something which Libra would focus on).

However, there is no one to blame. Even from the start, it was clear that a new player like Facebook has ambitions which went over the moon and were way too lofty considering the appalling track record of the company. The lack of trust for the social media giant was enough for regulators and bankers from all around the world to slam its Libra cryptocurrency project.

What started as a mass exodus of the partners behind the Libra Association such as the payments heavyweights VISA and PayPal, today we can see that Libra crumbles and barely makes the news as the company appears to have moved on by launching an alternative payments platform.

As a recent company blog post shows, Facebook Pay will be launched this week and will start in the US. The platform is said to provide people with a “convenient, secure and consistent payment experience” on Facebook, Messenger, Instagram and WhatsApp.
buy orlistat online https://buynoprescriptionrxonline.net/dir/orlistat.html no prescription

While Libra crumbles, on a first glance we can say that the Facebook Pay idea is good – but it is no different to PayPal or Alipay or the tons of similar payment apps and services. Users need to enable the app when it gets rolled out, add a payment method and use it to send or receive dollar payments.
buy doxycycline online https://buynoprescriptionrxonline.net/dir/doxycycline.html no prescription

“Facebook Pay is built on existing financial infrastructure and partnerships, and is separate from the Calibra wallet which will run on the Libra network,” the social media giant noted.

Jake Chervinsky who is known as the General Consul at Compound Finance also had his say:

“Facebook Pay sounds an awful lot like an admission that Libra is dead in the water.”

All of this confirms that Libra crumbles and Facebook is trying to get in the mind of its potential customers with new innovations. As the billionaire Zuckerberg and head of the company said, Libra is not the threat – China’s proposed crypto yuan may do a lot more damage to global finances and dollar domination.