The tech giants that already know everything about you, and now they want to be your banker, too. What could possibly go wrong?
The tech giants are coming for the banks. If there’s one message to be taken out of Facebook’s aggressive push into blockchain-based payments via its new cryptocurrency, libra, it’s that Facebook is now also a FinTech company.
Facebook has begun talking to U.S. regulators about getting approval for its forthcoming stablecoin cryptocurrency, said to be referred to as “GlobalCoin” at Facebook.