Facebook has reportedly set up a fintech company dubbed Libra Networks in Switzerland. The move clearly correlates with the social media giant’s Project Libra.
According to Reuters, the focus of the fintech is on the blockchain, payments, data analytics, and investing.
Libra Networks, which was registered in Geneva on May 2, will provide financial and technology services. Also in its wheelhouse will be developing related hardware and software.
Famed investor Michael Novogratz recently called Project Libra “stunningly important” to the crypto space.