WSJ: Facebook Seeks Reported $1 Billion for FB Coin Amid Talks With Visa, MasterCard
Sources tell the Wall Street Journal there exist multiple plans for integrating the coin into the lives of users.
Citing people familiar with the plans, the publication revealed Facebook was currently talking to major payment networks Visa and MasterCard about potential support, along with payment processor First Data Corp.
The cryptocurrency project, dubbed “FB Coin,” has fuelled rumors for around a year that Facebook wants to provide in-house payments to users. As more information trickles down to the outside, it appears various options are under consideration by executives, including payments via a user’s Facebook profile.
“Facebook is also talking to e-commerce companies and apps about accepting the coin, and would seek smaller financial investments from those partners, one of the people said,” the WSJ added.
According to the WSJ sources, however, the huge fiat backing is further deliberately designed to remove perceived doubts about FB Coin versus bitcoin and other cryptocurrencies. Volatility, they said, should be avoided in order to boost uptake.