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Facebook Collaborated with South American Online Marketplace on Libra Crypto Project

By Tracy Hannes | June 17, 2019
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Facebook Collaborated with South American Online Marketplace on Libra Crypto Project

Mercado Libre, the South American online marketplace is teaming up with Facebook to work on the Libra cryptocurrency project.

Based in South America, Mercado Libre is one of the most popular e-commerce platforms. The firm is now operating in more than 19 countries.

In an interview with Cointelegraph Brazil, an executive of Mercado Libre revealed that the firm will integrate GlobalCoin into its payment system. Users of the e-commerce platform will be able to purchase goods using Facebook’s digital currency.

Moreover, it is said that Facebook will offer one node in its blockchain network for the firm.  

Recently, Mastercard, Paypal, Uber, and Visa are reportedly the major names that will back Facebook’s new cryptocurrency. As per the report, the social media giant managed to sign on over a dozen backers for its purported GlobalCoin cryptocurrency.

Earlier, Facebook has kicked off talks with the U.S. Commodity Futures Trading Commission over its cryptocurrency plans, reported by The Crypto Sight on June 5. The report comes on the heels of a letter from the U.S. Senate Banking Committee to Facebook founder and CEO Mark Zuckerberg asking to share the details about the cryptocurrency project.

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