Facebook to Launch Crypto for WhatsApp
The social network Facebook is working on creating cryptocurrency for its messenger WhatsApp. With the help of the newborn coin, users will be able to send money to each other.
According to Bloomberg, Facebook creates a stablecoin, which will be pegged to the US dollar. This is necessary to reduce the volatility of the crypto. Initially, cryptocurrency will be available in India. Meantime, the social network’s coin is far from being launched, because the company needs to develop a strategy, including plans for keeping reserves.
Facebook did not confirm but did not deny the information. According to the company, the social network is constantly exploring the possibility of using blockchain technology. This is exactly what a small team of professionals is doing, led by the ex-president of PayPal David Marcus, who headed WhatsApp in 2014.