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Facebook Sets Up Second Libra Cryptocurrency Unit in Geneva

Dec. 11, 2019, 4:21 PM

Facebook Inc. registered a second unit in Geneva under the Libra name as it continues preparations to introduce its digital currency despite stiff regulatory opposition.

Libra Networks II was registered in the past month in the Swiss federal business directory under the same shared workspace as the first Libra entity. Its goal, according to the registry, is to offer “services in the fields of finance, technology as well as the production of software and related infrastructure” linked to blockchain, and big data.

Facebook is aiming to launch Libra in 2020. But faced with opposition from U.S. and European regulators over ...