Facebook has enlisted more than a dozen companies including Visa, Mastercard, PayPal Holdings and Uber Technologies to back its new cryptocurrency, the Wall Street Journal reported on Thursday.
Each company will invest around $10 million (roughly Rs. 70 crores) 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.
© Thomson Reuters 2019