Facebook's digital currency Libra: Why nonprofits are joining

SAN FRANCISCO — Facebook, together with 27 partners ranging from Visa to Mercy Corps, has unveiled a new global currency built on blockchain.

The company has been working on Libra for more than a year, but it is distancing itself from directly managing the cryptocurrency. Facebook created Calibra, the digital wallet that will store the currency, as a subsidiary that company representatives said will not be allowed to share financial customer data with other divisions of the company.