Facebook may be launching their own cryptocurrency

11 May, 2018
by Conor Maloney
News
Facebook may be launching their own cryptocurrency

Facebook are reportedly "very serious" about launching their own cryptocurrency which will facilitate payments on the huge Facebook marketplace.

A Facebook token could be huge given the userbase of over 2 billion people and the marketplace valued at $5 billion.

A Cheddar report indicates that the company are discussing the token now, and points out that Facebook is exploring blockchain solutions as well. PayPal president and Coinbase board member David Marcus is heading up Facebook's blockchain project. 

Marcus was asked in February if Facebook would be launching a crypto token, and said that they were a while off yet given the obstacles currently in the way, although the Cheddar report indicates that the issue is now becoming more pressing. Due to Facebook's high amount of capital, the company will reportedly not be launching an ICO in order to release the token.

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