Facebook Sources Say That Stablecoin White Paper Will Come on June 18

Multiple sources are expecting Facebook to launch its stablecoin on June 18, IT and fintech magazine TechCrunch reported on June 6.

Citing people familiar with the plans, the publication added strength to existing suggestions from both within and outside the company that its secretive cryptocurrency project would appear this month.

Previously, rumors had suggested it would be 2020 before Facebook made a commitment to bring its product, which should focus on remittances, to market.

“It’s currently scheduled for a June 18th release of a white paper explaining its cryptocurrency’s basics,” TechCrunch states.

That date had also come from Laura McCracken, Facebook’s Head of Financial Services & Payment Partnerships for Northern Europe, who said in an interview with German finance magazine Wirtschaftswoche this week the stablecoin would not only involve a U.S. dollar peg.

“The value of Facebook Coin will be secured with a basket of fiat currencies,” she told the publication.

Facebook has caused an industry-wide stir with its noises about entry into the payments sector. Not just the social media plat