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The social media giant Facebook reportedly held talks with major cryptographic exchanges in the United States about the release of its own crypto, the Financial Times (FT) reported on May 24.
Citing two people familiar with Facebook's "Globalcoin" project, the Financial Times said Facebook had discussed the initiative with a major cryptocurrency system and a portfolio, Coinbase. The article also states that Facebook reportedly spoke to the Gemini Stock Exchange, founded by the Winklevoss twins, the well-known rivals of Facebook's CEO, Mark Zuckerberg.
According to anonymous sources, Facebook is conducting negotiations with major companies related to cryptography to ensure that its stablecoin, which is the subject of long rumors, is indexed to the value of the US dollar and is liquid, negotiable and secure.
According to the report, other companies would have included Jump and DRW, Chicago's high-frequency trading companies.
All parties mentioned above declined to comment on the case with the FT. The report adds that the social media giant has asked them to sign non-disclosure agreements.
Although the BBC recently announced that Facebook's next cryptocurrency would be payments-oriented, sources said Globalcoin would be "bigger and more open" than a simple payment method for Facebook purchases. As previously stated, Facebook would intend to integrate its three full-fledged applications – WhatsApp, Messenger and Instagram – to carry out its massively exposed crypto-currency project.
According to the FT, industry experts say regulation will be the biggest hurdle for Facebook to broadcast its own cryptocurrency.
On May 2, Facebook registered a new financial technology company, Libra Networks LLC, in Geneva, which plans to offer services in the areas of finance and emerging technologies, including payments, financing, identity management , data analysis, large data, blockchain, etc.
Earlier in April, Cameron and Tyler Winklevoss reached an agreement with Charlie Shrem, a Bitcoin entrepreneur (BTC), to stop a lawsuit that the twins filed against Shrem last year. The brothers had previously accused Shrem of stealing 5,000 bitcoins (about $ 40 million at the time of publication).
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