Business Here is what you need to know about how Libra, Facebook's new cryptocurrency, will work Updated : June 18, 2019 05:38 PM IST Facebook is hoping to keep the libra's value stable by tying it closely to established currencies. Cryptocurrencies exist not as physical bills or coins but rather as lines of digitally signed computer code. Libra is backed by several traditional financial companies, including PayPal, Visa and Mastercard. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.