According to reports, Facebook Cryptocurrency is set to be launched this year. And employees have the option to be paid in the cryptocurrency token or hard cash.
Although the coin should be launch globally next year, but Facebook could no longer wait till next year before launching the product since the target market for the cryptocurrency is “developing nations where government-backed currencies are more volatile“.
The token will mainly be used virtually by all Facebook products which includes WhatsApp, Messenger, and even Instagram — We are expected to see ATM-like terminals and also, there will be sign-up bonuses for merchant who accept Facebook Cryptocurrency as payment.
According to the report, there are now 100 people known to be working on the crypto project via profiles on professional networking platform LinkedIn. Facebook is also reportedly not done hiring, with over 40 openings still available in the team’s business unit, as per its website listing.
The cryptocurrency has been named ‘Globalcoin’ is said to debut June 18 2019. You’ll be able to send and receive money using WhatsApp once the coin is launched according to reports.