Facebook’s new cryptocurrency may launch this month, a report says
Facebook will announce a new cryptocurrency this month, according to a report by The Information. Facebook employees who work on the project, called Libra, can choose to be paid in the cryptocurrency token instead of hard cash, the report says. Previous reports have suggested that a global launch would happen next year.
Besides Facebook employees, the target market for the cryptocurrency is “developing nations where government-backed currencies are more volatile,” The Information reported. The token will mainly be used in Facebook’s products — WhatsApp, Messenger and so on — but the company is also planning ATM-like physical terminals. There will also be sign-up bonuses for merchants who accept Facebook’s cryptocurrency as payment.