The report also says that the company is having discussions with money transfer companies including Western Union “as it looks for cheaper and faster ways for people without a bank account to send and receive money”. Previous reports have suggested that Facebook is in talks with a number of online merchants to accept the currency as payment in return for lower transaction fees.
Facebbok’s involvement in crypto could be a significant boon for the sector, as the social network’s massive user base could help boost crypto adoption and usage. As for Facebook, creating a proprietary cryptocurrency would enable the company to tap into the lucrative sector of online payments, as well as establish itself as a major player in the crypto space.
Featured image: pixinoo / Shutterstock.com
More Resources
The post Facebook said to plan crypto launch in Q1 2020 appeared first on The Independent Republic.
source: https://theindependentrepublic.com/facebook-said-to-plan-crypto-launch-in-q1-2020/
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Article comments