Facebook moves closer to launch of its own cryptocurrency

By Olivia Minnock
Technology giant Facebook could launch its own cryptocurrency this year, according to reports. Following much speculation on the subject, it has been r...

Technology giant Facebook could launch its own cryptocurrency this year, according to reports. 

Following much speculation on the subject, it has been reported by the New York Times that Facebook will be launching its own cryptocurrency.

The digital token is set to be integrated into the popular messaging platform WhatsApp, which Facebook purchased for $19bn in 2014. If implemented, WhatsApp users would be able to send money electronically all over the world.

SEE ALSO:

The idea of the social media giant, valued at over $470bn, having its own cryptocurrency has been in the press for a while, but the recent report says Facebook has now been approaching cryptocurrency exchanges about potential listings.

It was announced in May 2018 that the business was forming a team to look at the potential of blockchain technology and how this might be incorporated into its platforms. Now, the New York Times, citing “four people briefed on the negotiations”, has said it could launch as soon as the first half of this year.

Share

Featured Articles

Upcoming Events: FinTech LIVE 2024

Discover what’s still to come in 2024 for FinTech LIVE

SAVE THE DATE: FinTech LIVE New York

FinTech LIVE returns this summer with FinTech LIVE New York on 17 June 2024 – The ultimate virtual event for fintech leaders in North America

WE’RE LIVE! FinTech LIVE Dubai

Back for another day, this time in Dubai! FinTech LIVE Dubai is LIVE, don’t miss out on your chance to hear from Swift, HSBC, Mastercard and many more

Amberdata: RWA tokenisation gains significant momentum

Tech & AI

WE’RE LIVE! FinTech LIVE Singapore

Banking

FinTech LIVE Singapore: Just One More Day to Go!

Financial Services (FinServ)