Facebook is branching out into the financial services arena by offering consumers the chance to participate in the bitcoin-based Libra cryptocurrency network through a new subsidiary, called Calibra. Starting with a digital wallet for Libra, Calibra will enable consumers to send Libra through Messenger, WhatsApp and a standalone app at little to no cost, with 2020 as the anticipated launch. Future services planned include paying bills with one touch as well as scanning a code to buy products or services. Facebook has emphasized strong protections for consumers’ money and personal information, as well as fraud prevention. The company is targeting consumers without a traditional bank account and will be the first major e-commerce platform to offer a proprietary digital payment system.