Facebook is dealing with a cryptocurrency for WhatsApp to measure up to bitcoin

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Facebook is dealing with a cryptocurrency for WhatsApp to measure up to bitcoin

Facebook’s much-rumoured cryptocurrency seems near fulfillment, with reports recommending the innovation giant is within a couple of months of releasing its own bitcoin-style currency.

A secret group of around 50 Facebook staff members are dealing with the cryptocurrency, according to The New York City Times, who pointed out 5 confidential sources near the task.

The social media network very first started dealing with the cryptocurrency in May in 2015,following one of the biggest management reshuffles in the company’s history Previous rumours have actually recommended the so-called stablecoin, which would be pegged to other currencies to prevent cost volatility, would present to users of the popular messaging app WhatsApp.

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A proposed merger of WhatsApp, Instagram and Messenger might see the cryptocurrency ultimately work throughout all Facebook-owned platforms.

Facebook is supposedly currently in discussion with cryptocurrency exchanges about the launch of the brand-new currency, which might occur within the next 4 months.