Stablecoins are virtual cryptocurrencies which are designed to minimize the impact of price volatility.
Earlier this year, Facebook announced the formation of a special team, lead by former PayPal president David Marcus, that would explore the usage of Blockchain-based technologies. However, not much is known about the company’s plans except that it has been on a hiring spree ever since. But now, a new report suggests that the Facebook’s blockchain division is reportedly working on developing a cryptocurrency that would enable WhatsApp users to transfer money on its social messaging platform. The company is planning to introduce its virtual currency in India first.
According to a report by Bloomberg, the social media giant is working on developing a type of cryptocurrency called „stablecoin“ that would enable money transfers on WhatsApp.
For those of you who are not sure what a stablecoin is, here is a crash course. Stablecoins are virtual crypto currencies which are designed to minimize the impact of price volatility.
