https://wccftech.com/the-crypto-conundrum-facebook-backed-libra-coin/

Facebook, Visa, Mastercard, Uber, Lyft, among other finance and tech companies partner for Libra Coin in Libra Association to promote global currency.

Libra coin is being created to try to expand payments globally and lower transaction costs while maintaining security. The underlying feature of the coin is that it’s backed by international deposits from “high quality” central banks to create diversification and inflation control. The Libra Association released its white paper on how the cryptocurrency would function, highlighting better security and performance while maintaining easy to access networks.