Facebook Set to Roll Out Own Cryptocurrency in 2020

The BBC has a report out today that Facebook will be rolling out its own cryptocurrency, called GlobalCoin, in 2020; it will launch the new crypto-based payments system with trials in a dozen countries by the first quarter of 2020; news leaked out earlier this month on this initiative that is known as Project Libra inside Facebook; the company has been in talks with both the U.S. Treasury and the Bank of England regarding regulatory issues for this initiative; Facebook has also been in talks with both Coinbase and Gemini as it seeks to prepare regulated platforms so its users can store and exchange GlobalCoin. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

Sign up for our Newsletters

Every morning the Fintech Nexus 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!