Facebook Unveils Cryptocurrency Libra as an Alternative to Bitcoin

Facebook Inc. formally announced plans to launch a cryptocurrency called Libra, promising a secure blockchain-based payment system backed by hard assets and designed for mainstream users. Facebook named early Tuesday a series of big, corporate partners—including financial-services heavyweights Mastercard Inc. and PayPal Holdings Inc. and tech giants Uber Technologies Inc. and Spotify Technology S.A.—that it…