Calibra is the name of the new subsidiary of Facebook and the digital wallet designed for the cryptocurrency Libra, also just launched.

The company founded by Mark Zuckerberg has established Calibra with the aim of providing financial services that allow people to access and participate in the global network of Libra.

The first product that Calibra will present is a digital wallet for Libra, the new cryptocurrency based on blockchain technology. The digital wallet, informed Facebook, will be available in Messenger, WhatsApp and as a standalone app. The expected launch date is 2020, which is also the date on which the Libra Association plans to launch the new cryptocurrency and blockchain-based ecosystem.

Users can use the digital wallet to save, send and spend Libra. Calibra will allow you to send Libra to almost any user who has a smartphone, in a simple and immediate way, as if it were a text message, and at low cost.

Over time, the company intends to expand its offer with additional services for people and businesses, such as paying bills with the simple push of a button, shopping by scanning a code or acquiring a public transport ticket without the need for cash or for a cash transfer.

When it is launched, explains Facebook, Calibra will include protections to keep the money and information of users safe. The company will be employed, ensures the company, the same verification and anti-fraud processes used by banks and credit cards, as well as automated systems that will proactively monitor activities, to detect and prevent fraudulent behaviour. Calibra will also offer dedicated support for customers.

Facebook ensures that precautions will be taken to protect privacy. Apart from limited cases, the company declares, Calibra will not share account information or financial data with Facebook or third parties without the customer’s consent. This means that the information about the account and financial data of Calibra customers will not be used to improve the targeting of ads in Facebook products.

The limited cases where these data could be shared, says Facebook, depend on the need to keep people safe, to respect the law and to provide basic features to Calibra users. Calibra will use Facebook data, explains the company, for compliance with the law, to protect accounts, mitigate risks and prevent criminal activities.

The development process of Calibra is still at the beginning, as is that of the entire Libra ecosystem. More information about Calibra is available on the website of the company controlled by Facebook at this link.

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