Facebook, a social network, has created its own stablebcoin. This was reported in The New York Times on February 28. According to informed sources, Facebook representatives have already begun negotiations with the crypto-exchanges regarding the listing of the coin.
The launch of a stablecoin of the popular Facebook social network will take place in the first half of 2019. The asset will be tied to fiat funds. It also clarifies that the peg will not be to the dollar exchange rate (as other stablecoins did), but to several national currencies at the same time.
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“The most anticipated, but secretive project is underway on Facebook. The company is working on a coin that WhatsApp users (owned by Facebook) can instantly send to friends and relatives”
The New York Times
Support for Facebook cryptocurrency will be guaranteed by all the financial resources that are in the company's account: dollars, euros, pounds sterling and other fiat assets. The coin will be intended for WhatsApp users (December 2017).
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David Marcus, one of the leading developers of the company, commented on the possibility of a stablecoin on the social network:
“We began researching the potential of the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details not only for introducing stable cryptocurrency into the network, but also for the possibility of transferring data using this technology (...) In addition, we have already created a blockchain-development department that will help create some solutions”
Facebook launches stablecoin for WhatsApp. Recall that earlier Cryptobit Media reported that Facebook CEO Mark Zuckerberg spoke about the prospects of the blockchain. https://cryptobit.media/en/news/other/942/
Editor: Yuliya Soroka