Facebook ‘Exploring’ Making Its Own Cryptocurrency, Media Report
Facebook is “very serious” about letting users make in-app payments with a bespoke crypto token, mainstream media reports.
According to Cheddar’s anonymous sources, people “familiar with Facebook’s plans,” the social media giant is “very serious” about plans to launch an in-app virtual coin.
Marcus’ appointment to Blockchain operations was immediately conspicuous, the executive previously having worked in the finance sphere for PayPal and subsequently joining US cryptocurrency exchange Coinbase’s board in December 2017.
At the time, Coinbase CEO Brian Armstrong praised Marcus’ cross-industry background in both payments and mobile communications.
The move nonetheless provides for a curious juxtaposition for Facebook, the platform having banned cryptocurrency-related advertising across its network in January. Also citing “misleading or deceptive promotional practices,” the ban was copied by both Google and Twitter soon after.