Facebook, the giant of social networking, plans to launch its own digital payment system with a cryptocurrency called GlobalCoin in the first quarter of 2020, reports the BBC.
It is expected that Facebook will reveal more detailed information about its cryptocurrency plans in the summer. Testing the company's token should begin before the end of the year.
According to the BBC, Facebook founder Mark Zuckerberg (Mark Zuckerberg) last month met with Bank of England Governor Mark Carney to discuss regulatory issues, opportunities and risks associated with launching cryptocurrency. Facebook also consulted on this topic with officials of the US Treasury Department.
In addition, the company is negotiating with payment companies, including Western Union, in order to find cheaper and faster ways to send and receive money for people who do not have a bank account. Facebook's digital currency is said to provide affordable and secure payment options, regardless of whether users have a bank account.
Suspicions about the plans to release Facebook cryptocurrencies were first heard in May last year. In December, the Bloomberg publication reported that the company intends to issue a steeblecoin , which will be intended for remittances in its WhatsApp messenger.
In March, The Wall Street Journal became aware that we are talking about creating Facebook's own payment system based on steyblecoin. Recently, Bloomberg confirmed the WSJ information and added that Facebook could introduce cryptocurrency in the third quarter.
Publication date 25/05/2019
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