【En la intimidad】

Facebook's long-rumored cryptocurrency might not be En la intimidada rumor anymore a week from now.

The Wall Street Journalreported on Friday that the social media giant had recruited "more than a dozen" companies to fund its upcoming cryptocurrency, reportedly called Libra. Among those companies are notable names in the payment processing space, such as PayPal, Mastercard, and Visa.

That means when Facebook reportedly unleashes its Libra white paper next week, it will do so with the blessing of several companies that could have been hurt by this had they not invested in it themselves. As the Journalreport pointed out, these companies stand to benefit if Libra actually takes off.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

Mark Zuckerberg is coming for cryptocurrency. Credit: David L. Ryan / The Boston Globe / getty

Facebook apparently wants around $10 million from each backer, and that money would be used to create the digital currency. The backers could then act as nodes in a new payment network that would verify and record transactions, but the Journal's report said neither Facebook nor the group of backers would directly control Libra.

SEE ALSO: Nancy Pelosi criticizes Facebook’s decision not to remove doctored video of her

If the report is to be believed, Facebook users will be able to send Libra to each other or use it to facilitate purchases on or off the social network. It's not difficult to see why companies like PayPal and Visa would want to back Libra; Facebook has more than two billion users who could potentially hop on the Libra bandwagon.

It's also easy to see why Facebook would do this. It could be a new source of revenue for a company that relies mostly on digital advertising for its income right now. Facebook could benefit financially from becoming even more of an e-commerce platform than it already is.

Finally, it's perhaps the easiest to see why people might be skeptical of this. Facebook's track record on privacy is notably poor and some might not trust the company to do this correctly. This could also make Facebook look like even more of a monopolistic titan to those who want the company to be broken up, like co-founder Chris Hughes.

---

Featured Video For You

---

New Apple sign-ins may present issues for Facebook

---

Topics Facebook Social Media Cryptocurrency

• Tech
• Deals
• Games
• Entertainment
• Science
• Shopping
• Digital Culture
• Social Good

• The State of 5G: When It's Coming, How Fast It Will Be & The Sci
• 'Overwatch' heroes reimagined as Pokémon
• How Trump won an election helped by America's anti
• This surreal image of Saturn is not a painting
• The fat bears are already extremely fat
• Muggles rejoice, the Quidditch Premier League is now a thing and it looks badass
• Miss Universe contestant responds to accusations of racism
• Cops give brutally honest advice on how to avoid this internet scam
• Best Max streaming deal: Save 20% on annual subscriptions
• Jimmy Fallon loves 'Gilmore Girls' and names his top four characters

• Texas to feral pigs: It's time for the 'hog apocalypse' to begin
• That's it, Netflix just cornered the comedy
• Miss World contestant in wheelchair hopes to make catwalk 'inclusive and fair'
• Twitter helps brands become more than faceless monoliths to their customers
• To sit, or not to sit? THAT is the question.
• Peeps Oreos taste nothing like Peeps, and that's a good thing
• Seven Earth
• Colby Rasmus' disgusting beard didn't last long enough to feel the internet's wrath
• For only the second known time, a chimp has a disorder similar to Down Syndrome
• It's about time: Half of all websites are now encrypted

• The Amazon Book Sale is coming April 23 through 28
• Bookstore praised for banning Wi
• Melania Trump's racy photos land Indian minister in soup
• Cybersecurity CEO fired after threatening to kill Trump on Facebook
• Fyre Festival and Trump’s Language
• Pizza delivered by drone? It's been done for real in New Zealand
• Jimmy Fallon loves 'Gilmore Girls' and names his top four characters
• NYC taxi driver pin
• Alienware M16 Gaming Laptop deal: Save $560
• Mark Zuckerberg's Pinterest account hacked again

• Fyre Festival and Trump’s Language
• Tony Romo gets emotional in speech about losing starting job to Dak Prescott
• People are wasting their good tortillas on supermoon memes
• Teacher posts inclusive note on door in wake of Trump's America
• The Amazon Book Sale is coming April 23 through 28
• 7 perfect 'Harry Potter' spin
• The Touch Bar MacBook Pro teardown: Nearly impossible to repair
• Steph Curry doesn't need your coaching tips
• Apple iPhone 17 Pro leaks highlight major new design change
• Indiegogo's new platform lets anyone become a venture capitalist