[ad_1]
According to the BBC, Facebook is developing a digital payment system that will be rolled out in several countries by the first quarter of 2020.
The report says the company hopes to start testing "GlobalCoin" by the end of 2019 and more details are expected to be released this summer.
The social media giant has reportedly met several high-frequency trading companies, cryptocurrency exchanges and bank officials over the last few months to secure the digital infrastructure of digital coins and allow users to access them. exchange for other crypto-currencies or conventional currencies, and make payments. .
Reports followed these meetings closely after Facebook's plans for a digital currency were first reported in December 2018.
The secret initiative has so far been codenamed "Project Libra" and is expected to be launched jointly with banks and brokers to link digital currencies to conventional currencies worldwide and to pbad for payment to selected online merchants. in exchange for a lower transaction. fees.
According to Ross Sandler, Barclays' Internet badyst, in March, cryptocurrency could generate up to $ 19 billion in additional revenue by 2021 for the company.
The news comes after the Financial Times announced that representatives of Facebook and the Gemini cryptocurrency exchange of the Winklevoss twins had held talks on the social media giant's planned digital play.
Read more: Facebook reportedly had talks with Mark Zuckerberg's archivivals, the Winklevoss twins, for a partnership on the company's new cryptocurrency
This is the second time that the company has embarked on cryptocurrency, nearly 10 years after the closure of Facebook credits for digital currencies after two unsuccessful years.
Reports of a Facebook coin raised crypto-currencies on Friday. Bitcoin rose 5 percent to about $ 7,960, while ethereum and bitcoin liquidity jumped 7 percent and litecoin rose 11 percent.
Theron Mohamed contributed to the reports.
Source link
