Facebook's Cryptocurrency Offering to Get Backing From Booking Holdings
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Booking Holdings wants to be an innovator and supporter of alternative payments systems given its presence in emerging markets, especially in Asia. So it is understandable that Booking would want to be a first mover in Facebook's digital currency effort, regardless of how it eventually turns out.
Online travel agencies aren't alone among travel industry, and other, businesses in resenting credit card fees.
That may be one motivation, along with respecting the power of Facebook in travel advertising, that Booking Holdings is reportedly getting in on the ground floor of a Facebook effort, slated to be announced next week, to create a cryptocurrency called Libra. [Here's an update on the Libra Association and Facebook announcements.]
The Wall Street Journal reported Thursday that Booking.com and Uber, along with a variety of financial services and e-commerce companies, including MasterCard, Visa and Paypal, will be part of a con
