About Calibra Wallet
Calibra is currently being built, but users can sign up to have early access. Once Calibra will be launched, the users should undergo an AML process. The required document is a government ID. The developers underline the necessity of KYC for users’ own security. The wallet will be released as a typical app in the App Store and Google Play. It also will be integrated into What’s App and Messenger (Facebook Apps) to ease the way of transactions.
It will be possible to convert local currency to Libra and use it everywhere in everyday life.
The vice president of product Kevin Weil explains the core of the wallet:
“For us, WhatsApp and Messenger are great homes for Libra. A couple billion people use them. But it’s not just that they use them, but how they use them. Messenger is to talk to close friends and family, and those are exactly the types of people you send money to. There’s a lot of overlap between the things you want out of a wallet for currency and the things you want out of a messaging app.”
The fees will be low-cost and transparent. It also concerns the international transactions. The developers promise the charges to be as low as it can be possible.
"Why does it cost insane amounts of money to send money? That’s the goal. We want to make sending money as easy as sending a text message.", said Kevin Weil.
Calibra will not share account information or financial data with Facebook, Inc., or any third party without customer consent. For example, Calibra customers’ account information and financial data will not be used to improve ad targeting on the Facebook, Inc. family of products.
Calibra has registered as a Money Service Business with the U.S. Department of the Treasury and is obtaining licenses in those U.S. states of money in their regulation of money transmission. In the EU, Calibra will operate an anti-money laundering program under the money laundering directives.