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Is Facebook developing its own digital currency?

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Daily Mail
December 24, 2018

Facebook could be developing its own cryptocurrency that users can send via WhatsApp. 

The tech giant is in the process of creating a ‘stablecoin’ that will allow users to transfer money on the Facebook-owned mobile messaging service, according to Bloomberg.

A stablecoin is a type of digital currency pegged to the U.S. dollar and is often favored for the fact that it’s less volatile than other currencies, such as bitcoin.

Facebook is expected to launch the digital currency in India, Bloomberg said, as the country has a massive remittance market, where users residing in international countries send money back to family members in their home country.

However, it will likely be a while before the currency becomes a reality, as the firm is still developing a strategy for its launch.

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This article was posted: Monday, December 24, 2018 at 8:15 am

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