Walmart Has Applied For Cryptocurrency Patent That Is Similar to Libra Token Proposed by Facebook

Walmart (NYSE: WMT) has applied for a cryptocurrency patent that has striking similarities to Facebook’s own Libra cryptocurrency. In the patent, Walmart thus the concept of a digital currency that has its ties placed with a regular currency, otherwise known as a stablecoin.

Walmart stated, “Using a digital currency, low-income households that find banking expensive, may have an alternative way to handle wealth at an institution that can supply the majority of their day-to-day financial and product needs.”

Walmart hopes that, by adding a “Walmart Coin” as an option for payment, may benefit some of its shoppers who opt to avoid using expensive brick and mortar banking services, among benefitting other users of the cryptocurrency.