[southerndrift]

How else can facebook prevent people from moving on to wechat with its internal payment system? Why should people stick to facebook if wechat can offer a whole bunch of services that need (micro) transactions?

[vertex-four]

Facebook can have an internal payment system that uses local currencies. There is no reason it needs to create its own currency, except as a power grab. Building out a Paypal clone is fine enough.

[repolfx]

How can it be a power grab, Libra was going to be at least an open system with it's own wallet protocols and market for implementations. A WeChat style system would be totally closed from the ground up.

[lonelappde]

It's not a power grab, it's an attempt to avoid taxes and regulation, same as all the game companies do with virtual currency.

[cwkoss]

They could just get a banking license and do a stored value wallet denominated in an existing currency.

[Nydhal]

China