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Facebook-Jio deal could pave way for cryptocurrencies in India

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The mega Facebook-Jio deal could pave the way for the growth of cryptocurrencies in India driven by the former’s own digital currency Libra.

Last year, Facebook assembled a group of companies to create an open-source cryptocurrency Libra, which could potentially be used as a payment option in applications such as Messenger and WhatsApp.

Facebook, world’s largest social media company, recently invested $5.7 billion for a 9.99% stake in Reliance Jio Platforms. Experts see this as an opportunity for both companies to tap into the digital payments market while also promoting blockchain innovation in India.

Reliance Jio Infocomm Ltd (Jio) has already pledged to develop the biggest blockchain network in the world. The company made an official

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
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Deaths: 237 619
Recovered: 0
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