‘Facebook Wants to introduce Cryptocurrency in multiple Countries in 2020.’ Facebook is planning to introduce its, internally referred to as GlobalCoin, in multiple countries in the first quarter of 2020, reports on Friday.
The cryptocurrency should serve as the underlying technology for Facebook’s payment system with which users could transfer money.
The system gives Facebook presumably valuable insights into how users spend their money.
In recent months, several rumours have been circulating that Facebook is planning to release its crypto coin.
Users could exchange their money for the currency and then make transactions.
Also, reported that Facebook is likely to link its currency to fiat money (fiduciary money),
such as the euro, dollar or yen, to prevent a fluctuating exchange rate with substantial increases or decreases in value.
According to reports, Facebook did not want to react to the findings.