Facebook to Launch its Cryptocurrency by the End of June? - Forex News by FX Leaders

Facebook to Launch its Cryptocurrency by the End of June?

Posted Thursday, June 6, 2019 by
Arslan Butt • 1 min read

Facebook is most likely launching its cryptocurrency by the end of June, and in a big way. According to a report on The Information, the social networking giant is planning bonuses to merchants accepting its crypto for payments.

In addition, Facebook is considering installing physical kiosks similar to ATM machines where users can exchange real currency for its cryptocurrency. Employees working on this project within Facebook can even choose to get their salaries paid with this digital currency.

The cryptocurrency can also be used to send and receive payment through other apps like WhatsApp and Facebook Messenger. If this crypto takes off, it would offer Facebook an interesting revenue generation model beyond ads, which have come under fire by privacy advocates in recent times.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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