Will Facebook's Libra currency shake up financial services?

NEW YORK/LONDON • Facebook's first big foray into the financial world raised an immediate question: How deeply will its new digital currency shake up traditional financial services?

Facebook's vision promises a world where banks and other payment providers are disintermediated by Libra, which would allow instant, near-free international money transfers.

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A version of this article appeared in the print edition of The Straits Times on June 20, 2019, with the headline 'Will Facebook's Libra currency shake up financial services?'. Print Edition | Subscribe