The Facebook cryptocurrency project will focus on remittances to India and is in early stages of development.
“The Facebook cryptocurrency project will focus on remittances to India and is in early stages of development”
Facebook is working on a cryptocurrency for WhatsApp as part of its blockchain projects, a new report claims. This cryptocurrency will be a stablecoin — a centralised cryptocurrency that is valued against a dollar — to maintain stability. This digital currency is being designed for remittances for the Indian market, which is the biggest market for WhatsApp in terms of user base.
In a new report, Bloomberg says the Facebook cryptocurrency is still in early stages of development.
