Something’s Brewing at Facebook’s Cryptocurrency Division

It’s not entirely clear what exactly is going on in Facebook’s nascent cryptocurrency division, but several reports suggest that something is afoot.

Facebook Meets with Cryptocurrency Project Stellar

The first comes from Business Insider, who reports that Facebook’s blockchain research group recently met with Stellar to discuss how the social media conglomerate could leverage distributed ledger technology (DLT) as it explores potentially building out a payments network.

According to unnamed sources, the two parties discussed how Facebook could fork the public Stellar blockchain, much as chat app Kik did after it decided to create an independent blockchain for its Kin cryptocurrency rather than piggyback on the main Stellar network. The task force is also said to have met with other unnamed cryptocurrency projects.

The publication also reports that Facebook has rapidly been expanding its blockchain division. One job posting said that the endeavor “is a startup within…