Facebook talks to Winklevoss twins to distribute its crypto coin on Gemini

24 May, 2019
by Joeri Cant
News
Facebook talks to Winklevoss twins to distribute its crypto coin on Gemini

Mark Zuckerberg and the Winklevoss twins might be working together again, as Facebook reportedly wants to utilize crypto exchange Gemini to distribute its much-talked about 'GlobalCoin'.

According to an article by the Financial Times, Facebook has been talking to the Winklevoss twins to discuss the possibility of using cryptocurrency exchange Gemini to store and distribute its so-called GlobalCoin.

It is a twist of faith that the $65 million settlement payment the Winklevoss brothers got from Facebook all those years ago, enabled them to invest heavily in cryptocurrency, and eventually brought them to initiate the Gemini crypto exchange.

A crypto exchange that Facebook now wants to utilize to distribute their coin. 

We can imagine that Zuckerberg is now thinking that the $65 million settlement he had to pay to the twins, turned out to be a great investment after all.

Just today Chepicap reported that Mark Zuckerberg’s company plans to roll out their crypto in the first quarter of 2020.

Referred internally as the 'GlobalCoin', it will be tested by the end of the year, before it’s set up as a digital payment system in about a dozen countries.

The detailed plan of Facebook's GlobalCoin is expected to be announced this summer as the test schedule is approaching.

Stay tuned with Chepicap for more updates on Facebook’s cryptocurrency project.

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