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Facebook to hire 50 stablecoin staff in Dublin

Facebook to hire 50 stablecoin staff in Dublin

Facebook is to hire 50 new staff for its stablecoin operation in Dublin, as it pushes ahead with plans to launch its Libra digital wallet by year-end.

The social media giant last week relaunched its plans for Libra in the face of a global pushback from regulatory authorities across the world.

Originally intended as an electronic medium of exchange backed by an array of assets but independent of any national currency, Facebook has significantly scaled back its approach, and instead will deliver a digital version of existing currencies, such as the Euro and US dollar.

The new roles opening up in Ireland will cover compliance, fraud and customer services.

Facebook first established operations in the Republic in 2009 with just 30 people. It now employs more than 5,000 people from its base in Dublin, reports the Irish Times.

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