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Facebook Rumored to Be Diving Into Digital Currency with ‘Stablecoin’

Tuesday, Jan 08 2019

Cryptocurrency

Written by FinTech News Brief Staff

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Facebook is rumored to be working on a using cryptocurrency for some of its payments, apparently focusing on small transactions in India. So reports CNBC.

The tech company is reportedly going to use “stablecoin,” which is tied to the U.S. dollar, and said to be less volatile than other cryptocurrencies. Facebook hired David Marcus, formerly president of PayPal, igniting speculation the company would get in the financial services game.

Read the full article from CNBC.

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