Facebook

The company disclosed the potential for legal action 'in the near-term' by the bureau in a recent earnings disclosure.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, is laying the groundwork to potentially declare that Facebook and another Big Tech firms pose risks to consumers.

A few months after cutting ties with its Diem stablecoin project, the company formerly known as Facebook is testing a virtual world marketplace.

The company had accepted a $60 million naming rights deal from Meta Platforms — the social media giant's new brand.

David Marcus, Facebook's financial services chief, discusses how its Novi digital wallet and the Diem stablecoin project it's involved in can be the backbone of a platform that offers real-time digital transactions, acts as a merchant acquirer and helps commercial banks handle central bank digital currencies.

If the new Facebook Pay feels underwhelming compared to the social network's past efforts, that's by design. It's now taking a slower approach that could help overcome the privacy concerns that plagued earlier projects.

The social network now lets people send links and QR codes to request funds through the Messenger app, but users may have little incentive to switch — or to trust Facebook with more of their data.

Development and regulatory costs would be so high that the largest firms would need significantly more scale to justify the investment, according to new research from the Federal Reserve Bank of Richmond.

Using social networks to make purchases and non-credit-card options like buy now, pay later are a permanent part of retail, Dan Brames of FIS writes.

The Facebook-affiliated stablecoin's move from Switzerland brings it to a country where regulators are familiar with crypto and rival currencies have already debuted.

CEO Mark Zuckerburg acknowledged the need to simplify the company's payment experience, particularly for virtual reality.

Mainstream attention to crypto and active projects mean it's time to have a strategy for CBDCs, says R3's Todd McDonald.

Circle Internet Financial Inc., a developer of the USD Coin digital token, has hired an executive from the Facebook Inc.-backed Diem Association to spearhead strategy and policy efforts.

Facebook’s evolving suite of shopping and payment services now includes an option to send funds to another person via Facebook Pay using a QR code.

Tech pioneer Bill Gates praised India’s policies for financial innovation and inclusion, saying his philanthropic foundation is working with other countries to roll out open-source technologies modeled on the country’s implementation.

Libra is distancing itself from Facebook not only through a name change, but also by attempting to draw attention toward its digital payment rail instead of the creation of alternative money.

India allowed Facebook Inc. to start operating its WhatsApp payments service in the world’s biggest open technology market.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

House Democrats’ antitrust reform plan intended to rein in companies like Amazon and Google could help level the regulatory playing field between the banking industry and its digital competitors. It could also revive calls to break up financial behemoths.