Facebook unveils its new digital currency called Libra

London : Facebook has unveiled plans to launch a new digital currency, called Libra, next year.

It said people would be able to make payments with the currency via its own apps, as well as on messaging service WhatsApp.

Firms such as Uber and Visa are also likely to accept it in future, it said.

It’s leading a consortium to create an open-source digital currency called Libra, set to launch in the first half of next year.

The goal is for developers to create services for consumers to send money around the world easily and for free — with the same convenience as sending a photo or a message.

The Libra currency will not be run by Facebook, but rather by a nonprofit association supported by a range of companies and organizations. But Facebook does have a plan to profit from it with a new subsidiary, Calibra, which is building a digital wallet of the same name for storing and exchanging the currency.

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