Facebook's cryptocurrency-based payments system gets big backers


June 13 Reuters - Facebook Inc has enlisted more than a dozen companies including Visa Inc , Mastercard Inc , PayPal Holdings Inc and Uber Technologies Inc to back its new cryptocurrency, the Wall Street Journal on Thursday (graphic).

Each company will invest around $10 million in a consortium that will govern the cryptocurrency, the WSJ reported, citing people familiar with the matter.

The money will fund the creation of the coin, which will be pegged to a basket of government-issued currencies, the report said.

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Referenced Symbols: FB ,

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