Facebook to Reportedly Launch Its Cryptocurrency in First Half Of 2019
Abhimanyu Krishnan's original article for www.investinblockchain.com reduced by 50%
It appears that it is finally happening - after Anthony Pompliano said that Facebook would build the most used crypto product, the first step in that prophecy seems to be fulfilled as the New York Times reports that Facebook plans to launch its own cryptocurrency, primarily aimed at the remittances market. The Times cites sources close to the project, who have said that Facebook plans to introduce the new token on WhatsApp such that users will be able to send the cryptocurrency to their friends and family. The most anticipated but secretive project is underway at Facebook.
The company is working on a coin that users of WhatsApp, which Facebook owns, could send to friends and family instantly, said five people briefed on the effort who spoke on the condition of anonymity because of confidentiality agreementsThe Facebook project is far enough along that the social networking giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers, said four people briefed on the negotiations. Says that Facebook employees have told exchanges that they expect to release the coin in the first half of 2019 - which is a very short time frame in the cryptocurrency space. The launch of a Facebook-created cryptocurrency would surely mark the next phase in the cryptocurrency market.
Investors will have to wait for further details to assess the value and significance of their token - even if Facebook is keeping things under wraps.
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CN [too long; didn’t read]
Summarised crypto news.