Facebook Is Launching Its Own Cryptocurrency For WhatsApp Transfers

[fitload]

Facebook Inc. is reportedly planning to release its own cryptocurrency pegged to the U.S. dollar, initially for facilitating money transfers via its WhatsApp messaging app.

According to the report from Bloomberg, Facebook is developing a stablecoin that would help WhatsApp users to transfer money, the reports also say that the WhatsApp feature will focus on the remittances market in India.

Remittances are money sent back home from those living outside their country of origin, and the remittance market is becoming the focus of a number of crypto efforts, especially the remittance market surrounding the continent of Asia, which alone is a $256 Billion market, and is often pointed out as a perfect opportunity for a crypto use-case.

It’s unclear when the feature might go live, but today’s report says it won’t happen soon as Facebook is “far” from being ready to launch...

Read More: https://bitzamp.com/facebook-is-launching-its-own-cryptocurrency-for-whatsapp-transfers/

[PRIBO247]

Facebook Inc. is reportedly planning to release its own cryptocurrency pegged to the U.S. dollar, initially for facilitating money transfers via its WhatsApp messaging app.

According to the report from Bloomberg, Facebook is developing a stablecoin that would help WhatsApp users to transfer money, the reports also say that the WhatsApp feature will focus on the remittances market in India.

Remittances are money sent back home from those living outside their country of origin, and the remittance market is becoming the focus of a number of crypto efforts, especially the remittance market surrounding the continent of Asia, which alone is a $256 Billion market, and is often pointed out as a perfect opportunity for a crypto use-case.

It’s unclear when the feature might go live, but today’s report says it won’t happen soon as Facebook is “far” from being ready to launch...

Read More: https://bitzamp.com/facebook-is-launching-its-own-cryptocurrency-for-whatsapp-transfers/

This will be a gigantic leap on the part of Facebook should they succeed. I expect that this feature and others that will be added will make whatsapp much more enjoyable than before.

[Hadley]

This would be a big step for blockchain because many people are using facebook in the world. This also a marketing so that more and more people will know about crypto world

[harywrites]

It is now a trend in the crypto-community that Facebook is making moves to automate WhatsApp with crypto transactions.  Amazon is also launching a Blockchain service to help clients develop Blockchain networks without incurring the costs of creating their own platform. The app would afford users the opportunity of building platforms using either Hyperledger Fabric or Ethereum. Big tech Giants are gradually keying into the idea of decentralization and this would go a long way to turn Blockchain tech into pop culture tech. read the full exclusive on coinnewsexpress. https://coinnewspress.com/amazon-launched-new-service-for-building-blockchains/