Report: Facebook Developing Crytocurrency for WhatsApp Money Transfers

[engine]

There's a report that "sources" say Facebook is developing a cryptocurrency which will be used for money exchanges on its WhatsApp messenger service.

The company is developing a stablecoin -- a type of digital currency pegged to the U.S. dollar -- to minimize volatility, said the people, who asked not to be identified discussing internal plans. Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin, the people said.

[bloomberg.com...]

[Lexur]

Facebook can't create anything called "crypto" because it is contrary to their own DNA ... unless they want call anything "crypto" while they reserve the right to collect personal info about everything, which is their business model.

[tangor]

fb is all about making money. Now they are trying to do it for real. With their track record one can expect the "books" might get fudged down the line, especially as they will "control" the currency!

Play along only if you have immense faith in the goodness of fb.

Me? Cryptocurrency still bothers me after all these years and I don't play. Prefer the real deal (gold, silver, a recognized national currency, etc.)

[moonswamp]

I don't believe this.... FB or Google and other internet whale won't create cryptocurrency cos it's still not clear if it's legal or not ... they won't risk on this!
Google have funded XRP, maybe FB will acquire some crypto team instead of creating by themselves !