RATE Group | Facebook Tests Cryptocurrency For WhatsApp, Headhunts Journalists For News Tab
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Facebook Tests Cryptocurrency For WhatsApp, Headhunts Journalists For News Tab

21 Aug Facebook Tests Cryptocurrency For WhatsApp, Headhunts Journalists For News Tab

Posted at 18:35h in Cryptocurrency News by

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This week, Facebook is making long-anticipated steps toward launching cryptocurrency for WhatsApp and headhunts curators for its new dedicated News Tab; LinkedIn outlines its fake accounts and scammers removal practices and more.

Facebook Is Testing Cryptocurrency For WhatsApp In India 

According to Bloomberg, Facebook is planning to make a cryptocurrency that will allow money transfers on WhatsApp, with the main focus on the remittances market in India.

Why it matters: The initiative makes sense, as WhatsApp is widely popular in India, with more than 200 million users. Also, per World Bank, India leads the world in remittances with people sending $69 billion home to India in 2017 alone. 

The details: The company is reportedly working on a stablecoin, which is a type of digital currency pegged to the U.S. dollar–to minimize volatility. However, at this time, Facebook is not close to releasing the coin, because the strategy hasn’t been developed yet, including a plan for…

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