Which Companies are Launching Their Cryptocurrency?
Table of Contents
- 1 Companies launching Cryptocurrency: In the summer of 2019, Mark Zuckerberg’s social network announced the development of the Libra project.
After that, many large companies launching cryptocurrencies announced similar plans.
On June 18, 2019, Facebook announced Libra cryptocurrency, Libra Investment Token, and Calibra digital wallet. The project’s launch date was set for the first half of 2020, but development was suspended due to criticism from financial regulators.
Last year, JPMorgan was preparing to release its JPM Coin, but that never happened. The coin has been called the “XRP killer” as it has the same goals. The advent of JPM Coin was supposed to make payments faster and cheaper.
Immediately following Facebook’s announcement last year, Goldman Sachs revealed that it could follow the path of JPMorgan, which creates the JPM Coin token. The head of Goldman Sachs called stablecoins the future of the payments industry.
In the second half of 2020, the Mitsubishi UFJ financial group will release its own cryptocurrency. Users will be able to pay for purchases using MUFG Coin and transfer money. The token rate will be equal to one yen.
Sberbank may issue a token, the rate of which will be pegged to the ruble quotes. It will become a settlement tool for transactions with other digital financial assets. The company clarified that the decision to develop the asset will be made in the near future.
Google, Amazon, Netflix
Last year, the billionaire Winklevoss brothers said it was only a matter of time before launching cryptocurrencies from companies in the FANG group (Facebook, Amazon, Netflix, and Google). The Winklevoss speculated that corporate digital money would be introduced before the summer of 2021.
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