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FB New Cryptocurrency to Be Run By 'Independent' Entity

Saturday, Jun 08 2019

Cryptocurrency

Written by FinTech News Brief Staff

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FB New Cryptocurrency to Be Run By 'Independent' Entity

Facebook has not officially launched its GlobalCoin cryptocurrency, but reports ahead of a company announcement claim it will have “an independent foundation” control it amid financial regulators’ fears. So reports Forbes.

The cryptocurrency will be geared toward developing countries with less stable fiat money. The digital tokens will be available for purchase through physical machines, and Facebook employees working on the new coin will be given the chance to take their pay in it.

Read the full article from Forbes.

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