Facebook is planning the launch of cryptocurrency in the first half of 2019: NYT report


Facebook talks to the trade of the possibility of listing a cryptocurrency.

This is the main finding from an article published Thursday in the New York Times regarding several attempts to introduce native crypto-currencies on widely used messaging platforms. The Times reports that Signal and Telegram also plan to distribute tokens over the next 12 months.

Citing "four people informed of the negotiations," the Times reports that Facebook told the exchanges that it was hoping to get a product in the first half of 2019.

The Facebook project, which was previously described by Bloomberg as a stable benchmark for its WhatsApp messaging service, would be the most prominent of the group. The social media giant has 2.5 billion users worldwide.

A source who spoke anonymously about CoinDesk confirmed that the company was currently working on a fixed part, based on meetings with Menlo Park.

Facebook has beefed up its blockchain team in recent months, with a hiring boost and at least a talent-driven acquisition. The company is currently seeking about 20 blockchain related positions. According to the Times report, more than 50 Facebook engineers are dedicated to the company's blockchain project.

By expanding the scope of the project, the article notes that, according to previous information, Facebook plans to integrate users via its Messenger, WhatsApp and Instagram messaging services.

Brady Dale contributed to the reports.

Facebook image via Shutterstock

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