The social media site has been working on ironing out a number of deals with online merchants and financial firms with the goal of reeling in more support for the brand’s cryptocurrency platform. The idea in question has been moving forward under the codename Project Libra for more than a year.

Facebook reportedly created the system with the goal of facilitating personal transfers and purchases on and off its platform. The goal is to create a system that can be used as a checkout option that’s similar to PayPal and Apple Pay, available to anyone who makes purchases in the internet.

The social network is reportedly seeking to raise roughly $1 billion for Project Libra from major credit card businesses such as Visa and Mastercard. Facebook’s service will also reward users with fractions of a coin for viewing ads or shopping on its platform.