RATE Group | Facebook is Developing a Cryptocurrency for Transfers in WhatsApp
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Facebook is Developing a Cryptocurrency for Transfers in WhatsApp

21 Dec Facebook is Developing a Cryptocurrency for Transfers in WhatsApp

Posted at 03:14h in Cryptocurrency News by

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Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India.

Citing sources familiar with the matter, Bloomberg states that Facebook is developing a stablecoin. The sources further stated that the coin will not be released anytime soon, as Facebook is still working on a strategy for custody assets i.e. the asset to which the stablecoin will be tied.

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