Libra may be viable, according to Fitch

Experts of the international rating agency Fitch believe that Libra, Facebooks' cryptocurrency, the launch of which is expected in 2020, may be viable. After analyzing the possibilities of a new digital currency, the agency indicated that Libra had certain technological advantages, such as its belonging to the category of stablecoins, tied to the national currency or assets reserves, which makes its price less volatile compared to other cryptocurrencies. The advantage of Libra is the prospect of its use on the world's largest social media platform with more than 2.7 billion users. Agency experts point out that the attractiveness of the new digital currency as a means of exchange, in addition to the stability of its price, is also in the possibility of avoiding the speculations characteristic of existing cryptocurrencies.

Related news

Steel production in the world since the beginning of the year increased by 5%

The World Steel Association reported that from the beginning of the year to May, the world produced 764.072 million tons of steel. Compared with the same period in 2018, its volume increased by 5%. The increase in steel output was recorded ...

Oil finished the week with active growth

The conflict between Iran and the United States has increased the risks regarding oil supplies from the Middle East, which pushed oil prices to rise at the end of last week. Over the week, Brent crude has risen in price by 5%, WTI - by almost ...

Citigroup predicts a rise in gold prices to 1 thousand 600 dollars in the next 12 months

Citigroup analysts believe that in the coming year, the price of gold could reach $1,600 per troy ounce if the US Federal Reserve reduces the base interest rate to zero and resumes the asset-buying program. On Friday, in the course of trading, ...

US secondary housing market recorded a 2.4% increase in sales in May

In the US secondary housing market, 5.34 million homes were sold in May, which is 2.4% more than in the same month a year earlier, the National Association of Realtors reported. Economists estimate that the figure was expected to be at the ...

Chinese Bitmain again plans to hold an IPO due to the rise in Bitcoin's price

Bitmain Technologies told about the resumption of plans for the initial public offering of its shares. As informed sources told Bloomberg, the world's largest maker of equipment for cryptocurrency mining came to this decision amid Bitcoin's ...
Get in touch with us