Facebook is probably about negotiating with a number of cryptocurrency exchanges to get its new Facebook coin built and bring it directly to consumers, where it will head-to-head with e.g. Bitcoin, Etherum and XRP.
Four people "briefed on the negotiations" told the New York Times that there is talk of negotiations and Facebook is seeking to release its new coin in the first half of 2019.
"The Facebook project is far enough along with that social network giant has held talks with cryptocurrency exchanges to sell Facebook coin to consumers, said four people briefed on the negotiations.
Facebook is looking at tying the value of its coin to a basket of different foreign currencies rather than just The dollar, three people informed about the plans said. Facebook can guarantee the value of the coin by backing each coin with a certain number of dollars, euros and other national currencies held in Facebook bank accounts. "
According to the report Facebook can be motivated to list its coin on exchanges to help overcome potential regulatory obstacles.
"If Facebook goes with a coin, it doesn't quite control, it would be harder for the company to make money from transaction fees, and it would be easier for criminals to use the coin for illegal purposes.
Facebook employees have told the exchanges that they hope to get a product out in the first hall of the year f. "
It seems that Facebook coin will not be extracted, which is the same approach that JP Morgan takes with their new coin.
In addition to trading Facebook coins on exchanges, users' WhatsApp, which Facebook owns, will reportedly be able to send coins to friends and family immediately.
Facebook is currently working on a comprehensive review of its messaging protocols designed to integrate Messenger, WhatsApp and Instagram. When it's finished, Facebook's new coin could potentially reach 2.7 billion people using apps every month.
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