In the spring of 2018, Marc Zuckerberg, CEO of Facebook, announced the creation of a division dedicated to blockchain technology. The project was officially launched in June 2019 under the name "Libra".

The "Facebook Coin" should allow simple access to a stable currency in emerging countries where the majority of inhabitants do not have a bank account, as well as facilitate and develop payments and facilitate online purchases via instant messaging ( Messenger and WhatsApp).

Facebook's cryptocurrency would make the process instantaneous and replace banking providers. The exchanges will go through Blockchain technology, with a private network, but the Libra is a “stablecoin”, that is to say that it will be backed by a basket of traditional currencies.

Facebook guarantees that its cryptocurrency will not be subject to significant volatility as it claims to have the financial means to guarantee the value of its virtual currency with currencies held in its bank accounts. 28 partners are associated with the project, including players in the payment and Internet transactions sector such as Mastercard, Visa, Paypal, Coinbase, but also Uber, Spotify, or the French Iliad (parent company of the operator Free) .
Facebook wants to be reassuring and has worked in collaboration with regulators to adapt the Libra protocol to the various monetary risks that its launch could entail.