In line with a recent report published by ‘CNBC’, leading social media giant ‘Facebook’ can reportedly announce its cryptocurrency project within this month, permitting its employees to take part of their salary in the coin.
Citing the ‘report‘, Facebook additionally plans to cede management of the cryptocurrency to outside parties so as to ensure that the digital asset won’t be completely centralized.
Third-party organizations can supposedly pay around $10 Mln dollars for the opportunity to act as a node – to validate transactions – on the network for Facebook’s native token.
The reported stablecoin – that will supposedly be integrated as a payment feature on WhatsApp, Messenger and Instagram – will be also available via physical ATM-like machines, says the report.
Facebook’s native cryptocurrency has been the topic of a lot of speculation over the past few months, as the firm has announced very little regarding its project. Earlier this week, the Financial Times ‘reported‘ that the U.S. CFTC [Commodity Futures Trading Commission] is in discussion with Facebook regarding its up-coming ‘stablecoin‘.
Also in May, Facebook ‘reportedly‘ acquired the “Libra” trademark for its secret project. Sources known to this matter claimed that [Facebook] was recruiting financial firm to develop the coin & that the project codename is ‘Libra’.
Later that month, Facebook additionally ‘registered‘ a new financial tech firm named ‘Libra Networks LLC’, with the Geneva Commercial Register within Switzerland.