Facebook May Announce FB Coin Stablecoin in Q3, Say Anonymous Sources
Speaking to mainstream media, insiders said a reinvented “PayPal Mafia” had started working at the firm’s blockchain division.
The company began hiring for a dedicated blockchain team last year, under the auspices of David Marcus, himself a former president of PayPal.
Now, around 20% of the team’s 50 members come from the payments platform, a situation reminiscent of the so-called “PayPal Mafia” executive group of the early 2000s.
As Cointelegraph reported, Facebook’s cryptocurrency debut will likely take the form of a stablecoin dubbed FB Coin.
Sources from Facebook itself have declined to comment on the developments.