Analysis shows: Facebook Libra's success will depend on continued explosive growth in emerging markets such as India

According to Bloomberg News, Jefferies Financial Group Inc's strategist analysis said that Facebook's new cryptocurrency Libra will rely on the continued explosive growth of emerging markets, especially India, to succeed. The report shows that although Facebook's user growth in North America and Europe has slowed, its number of users in India has doubled since 2015, reaching about 310 million, and is expected to surge to about 440 million by 2023. Facebook is taking advantage of the low penetration rates of emerging markets, with 90% growth in emerging markets expected to come from Southeast Asia, the Middle East, North Africa and Latin America.