Facebook Plans to Launch WhatsApp Cryptocurrency in Next Few Months

New reports surfaced in the New York Times about Facebook’s secret plans in the cryptocurrency space; the company is building a digital currency for the messaging service WhatsApp to allow users to send and receive money without fees; the cryptocurrency will be a stablecoin that will be pegged to a basket of different foreign currencies; the team building the project is led by David Marcus who was their head of messenger and previously worked for PayPal; reports also indicate the digital currency could launch as early as the first half of 2019. Source.

Sign up for our Newsletters

Every morning the LendIt Fintech News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!