Facebook Announces New Digital Currency 'Libra'

Facebook is preparing to launch its own digital currency similar to Bitcoin. Libra is scheduled to launch in 2020. Facebook has already partnered with PayPal, Uber, Spotify, Visa and Mastercard. The social media giant wants people to use Libra to send money across borders without the massive fees. They also hope that the digital currency can be used by people around the world who don't have bank accounts or credit cards.