Facebook registered financial technology company in Switzerland: Focus on payments and blockchain

It has previously been reported in the media that American social networking giant Facebook plans to develop mobile payments as a new source of revenue in the future.

On May 2, Facebook incorporated Libra Networks LLC, a fintech company that will focus on blockchain, payments and data analytics and investment, according to a document recently disclosed by the Geneva business registry.

Facebook invests in the new company, Libra Networks, which includes “Facebook global holding Company” among its shareholders.

Libra Networks LLC is a wholly owned investment by FACEBOOK GLOBAL HOLDINGSII,LLC, with Goss Majella,d ‘irlande, aDublin, and IRL as its chairman.

The company completed its registration process on May 2 and operates mainly in the provision of financial and technical services and the development of related hardware and software, involving technologies such as data analysis, big data, blockchain technology, mobile payments, etc.

Facebook did not comment on the establishment of Libra Networks LLC.

Facebook has more than 2 billion of internet users around the world, and in the past few years, Facebook has erupted in countless privacy violations and has been investigated by governments and the judiciary in many countries.

In the United States, U.S. government agencies are negotiating a final settlement deal, and Facebook faces about $5 billion in fines and a series of internal structural adjustment measures.

A number of media reports have previously reported that Facebook is developing a mobile payment technology based on cryptocurrencies that will be deployed through WhatsApp, the world’s largest mobile chat tool.

Past The Facebook platform is Facebook’s main social product. In the future, Facebook will focus on three mobile chat tools, driving private social models (no longer a massive personal dynamic disclosure model for traditional Facebook platforms), and increasing revenue through mobile payments and e-commerce.

According to media reports, Facebook also recently set up a branch in the UK, as the main force to promote mobile payment. Since WhatsApp is popular mainly outside the U.S., the company needs to recruit people in the UK who are familiar with the global mobile payment market.

In the mobile payment field, Facebook is now behind The Times. In the global market, samsung pay, apple pay and Google payment are stepping up their efforts to catch up with the leader PayPal. However, these three companies are all “hardware payment” models integrated with smart phones, rather than the chat tool payment model prepared by Facebook.