Facebook has registered a company in Switzerland for the likely development of stablecoin.
The largest social network has registered a new fintech company in Switzerland. The company is focused on work in the areas of blockchain, electronic payments, data analysis and investment. This can serve as another confirmation of the company's plans to launch its own stablecoin. 

The division is called Libra Networks and is owned by Facebook Global Holdings. Its registration was carried out on May 2 to provide financial and technological services, as well as the development of associated hardware and software solutions. 

Facebook stablecoin is supposed to share the name with a newly registered company: Libra. Last week, US senators prepared an open letter for Facebook, in which they asked the company to share information about the Libra project. 

Also recently, Bloomberg reported that the official announcement of Libra could take place in the third quarter. 

According to the WSJ, Facebook's stablecoin will form the basis of a full-scale payment network with support for a variety of services.