Facebook sets eyes to become world’s leading ecommerce platform as it launches its cryptocurrency on Tuesday

Wall Street analysts are eagerly anticipating Facebook’s possible unveil of its long-awaited cryptocurrency payments plan on Tuesday. According to various reports the company is preparing to finally reveal what it calls Project Libra with partners including Visa and Mastercard.

“We believe this may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams, ” RBC analyst Mark Mahaney said.

Facebook is not just looking at the social media space, according to analysts at MoffettNathanson.

“Facebook has its eyes set on becoming the world’s leading ecommerce platform as well,” they said.

Via CNBC

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