Facebook announced on Tuesday its first foray into digital currency, saying it will roll out cryptocurrency "Libra" next year. The coin, which uses blockchain, will be eligible for use on Facebook as well as other websites. Facebook's stock surged after the announcement, increasing by 2 percent in pre-market trading Tuesday. More than two dozen companies are backing Facebook's cryptocurrency venture, including Mastercard, PayPal, and Uber. The coin will be managed by the Geneva-based company Libra Association, of which many of Libra's backers are already members.

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