Facebook’s Stablecoin?

There have been news recently that Facebook has been hiring blockchain specialists and working on a crypto-project. Most specifically there were job postings for Data Scientist, Data Engineer and Software Engineers for blockchain accompanied by a position as Product Marketing Lead. What is derived is that Facebook has or is close to having a blockchain product to push in the market.

It was all tied together since recent reports and sources of Bloomberg.com have revealed that the purpose of the cryptoteam of Facebook will develop a Stablecoin that will allow users to transfer money through WhatsApp messenger (owned by Facebook since 2014).

The initial market on launch seems to be chosen to be India and the stablecoin will be backed by assets like regular fiat. However the project is still in the strategic planning stage and it is not expected to be available soon.

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