Gap Fill - Libra Crypto-currency - Level 6


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   access      ambitious      backing      basket      currency      details      difference      engagement      entry      fortunes      history      initiatives      lucrative      millions      minimal      myriad      new      payments      similarities      streams  
Facebook CEO Mark Zuckerberg is expected to unveil of an plan for his company to create a new global crypto-currency. A white paper outlines a plan that is designed to create a global currency. It will represent the of the social network site into the financial services market. The crypto-currency is called Libra. Facebook said it is aimed at the of people around the world who cannot get a bank account. Libra will allow people to send and receive anywhere in the world with fees. The banking will be done online via the of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have to the Libra crypto-currency.

Analysts say Libra has some to the Bitcoin crypto-currency. However, a major is that Libra will be a more stable and will avoid the wild fluctuations in value that Bitcoin has experienced. Libra will be backed up by a of currencies, such as the dollar, euro and yen. It will also have the of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize Facebook's . The finance company RBC Capital Markets said: "We believe [Libra] may prove to be one of the most important in the of the company, to unlock new and [generate new] revenue .

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