Banking Law News

Facebook’s New Coin Might Remake Money. If People Use It.

June 19, 2019, 6:06 PM

Facebook Inc.’s bid to create a new cryptocurrency has the potential to some day disrupt the global money system, analysts say. That’s if the new stablecoin, called Libra, can gain enough traction.

In the meantime, they say, the plan probably means little for existing payments companies, like Mastercard Inc., Visa Inc. and PayPal Holdings Inc. -- which are all partners with Facebook.

Shares of Mastercard, Visa and PayPal were mixed in mid-day trading June 19, ahead of the conclusion of the latest Federal Reserve meeting. Facebook was down as much as 2.1%.

Here’s a sample of the latest commentary about...

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