Facebook branches into banking

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The Facebook empire could be set to expand even further with the social media site’s plans to move into banking.

It’s developed its own currency, called Libra, and plans to offer services to save, send and spend the digital money.

The governor of the Bank of England says that any working currency of this type would have to be subject to the highest standards of regulation.

Sky’s Technology Correspondent Roland Manthorpe explains.


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