The official announcement of the Facebook stablecoin may take place in the third quarter
Social network Facebook may announce a stablecoin, the development of which, it is allegedly engaged in, in the third quarter of this year, writes Bloomberg, citing sources familiar with the situation..
According to the publication, in preparation for this event, the company is actively engaging former employees of the PayPal payment corporation. Formed last year, the blockchain initiative development team currently has 50 employees, a fifth of whom previously worked for PayPal. As it became known earlier, former PayPal president David Marcus is in charge of the project..
It is assumed that the first region for testing Facebook stablecoin will be India – a country where the social network sees significant opportunities for development. India is already testing regular payments based on Facebook’s WhatsApp Pay product. According to the founder of the company, Mark Zuckerberg, in the near future, the payment function will become available to residents of other regions..
Blockchain Capital partner Spencer Bogart, speaking with Bloomberg, said that Facebook’s initiative can provide the necessary impetus for the development of the cryptocurrency segment as a whole and serve as a connecting link that will help the general public become better acquainted with this technology..
“People can go further and buy bitcoin, buy ether. Most likely, a certain percentage of users will do so. I believe this will be a very powerful catalyst. Over the 10 years of its existence, Bitcoin has risen from zero users to 30-100 million, and Facebook has billions of them, “he explained..
On Wednesday, Facebook introduced new rules for advertising on its platform, according to which some ads related to blockchain and cryptocurrencies can now be placed without prior approval..
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