Home Business & Finance Facebook Might Launch Its Cryptocurrency Later this Month

Facebook Might Launch Its Cryptocurrency Later this Month

Facebook Might Launch Its Cryptocurrency Later this Month

Facebook has gained attention over last couple of months for all sorts of different reasons. The company has come into spotlight again as this time, a recent report form The Information has claimed that the social networking giant might launch its cryptocurrency later this month.

While the latest news is surprising, the report claims that Facebook has found several backers who will help the social network to improve trust on its cryptocurrency. Although we don’t know a lot of details about the upcoming currency, it’ll work as a borderless currency without any transaction fees. Apparently, the company is offering its employees to be paid with the cryptocurrency tokens.

If the rumors are true, then the new currency will be available through all of Facebook owned properties including WhatsApp and Messenger.

At the moment though, there is no official confirmation from Facebook regarding the upcoming product. If Facebook decides to release the cryptocurrency in June, we should hear more about it in the coming days.

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