Facebook’s cryptocurrency Libra

15 Jan 2019

The News

Facebook are planning to roll out new cryptocurrencies over the next year that are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international borders.

The Key Infomations

Facebook’s cryptocurrency is stablecoin and will be pegged to a basket of different foreign currencies, rather than just the dollar.

Facebook want to integrate the stablecoin with Messenger, Whatsapp and Instagram, whose monthly active users reach 2.7 billion.

Facebook is talking to exchanges about potentially listing a cryptocurrency.

Faceook hope to get a product out in the first half year.

What is the advantage of Facebook?

Facebook own the largest connection network of people in the world. In other word, Facebook’s coin will have good liquidity at the beginning. It’s easy to promote a money transfer service.

What could Facebook do with cryptocurrency?

Game Participants

Almost all the communication giants are actively involved in issuing their own cryptocurrencies. All of them want to benefit from their large user base.

Company Coin
Telegram TON
Signal Mobilecoin
Kik Kin