We know Facebook has been hiring cryptocurrency experts and building a blockchain team for a while, but the scope, aims, and timeline of the project are all unknown.
A new report by the New York Times claims Facebook is planning to launch its own cryptocurrency as early as the first half of this year.
According to the report, Facebook has several blockchain-based projects in mind, but the one that’s most likely to launch first is a type of stablecoin. These are cryptocurrencies tied to the value of traditional assets, such as fiat currency or gold; the NYT’s sources claim Facebook is looking to launch a stablecoin whose value would be tied to a basket of currencies. Read more…
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