Facebook registers Libra Networks in Geneva in latest blockchain move

Facebook may be heading to Switzerland to develop its stablecoin, opening up a financial technology company focused on blockchain, according to a public register. Geneva’s commercial register shows Libra Networks was registered on May 2 with Facebook Global Holdings as a stakeholder. Reuters first reported the development.

The LLC is seeking to develop software and infrastructure connected with investment activities and data analysis among other services relating to finance and technology, according to the register.

Facebook has not yet addressed the creation of Libra Networks.

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