Facebook is reportedly developing its own cryptocurrency

May 6, 2019

The Wall Street Journal reports that Facebook is preparing to launch a cryptocurrency for use across its social media platforms, including WhatsApp and Instagram. According to the report, Facebook hopes the coin will be backed by $1 billion in investments from Visa and Mastercard, among other financial services companies. If the tech giant does unveil a cryptocurrency, it’s certain to disrupt the current online payment habits of the company’s 2.5 billion monthly users.