Sunday, January 17, 2021
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Facebook ‘Has Spoken to Visa & Mastercard’ About a Token Launch

by firstcryptonews
May 28, 2019
in Bitcoin
Facebook ‘Has Spoken to Visa & Mastercard’ About a Token Launch

Social media giant Facebook appears to be drawing closer to the launch of its own cryptocurrency – and may have spoken to the likes of Visa and Mastercard about its forthcoming token.

Per a report from the Wall Street Journal, unnamed “people familiar with the matter” have confirmed that Facebook is currently “recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system.”

Facebook has even given its project a secretive codename – Project Libra – per the report.

The report’s authors added that its undisclosed sources had also made the following claims:

Facebook wants to create a “checkout option that users could port around the internet”
Users could be rewarded with “fractions of a token” for viewing ads
Users may also be rewarded for their activity on Facebook
Merchants would be able to “eliminate” transaction fees (currently up to 2-3% using credit cards online and other conventional forms of payment) by using the “Facebook Coin”
Users may be able to buy goods directly from Facebook advertisers using the new “Facebook Coin”
Among the companies Facebook has spoken to about its coin are Visa, Mastercard and payment processing company First Data
Facebook wants e-commerce companies and app developers to accept its coin, and wants small investments from potential partners of this sort
Facebook declined to comment, referring to a previous statement that it “is exploring many different applications” of cryptocurrencies.

The new report also backs up a number of claims about the forthcoming token made by New York Times writer Nathaniel Popper last month.

Popper stated that Facebook was looking to launch a stablecoin, with a value pegged to “a basket of foreign currencies.”

The same journalist also stated that Facebook was looking for some USD 1 billion worth of investment from venture capital companies for its project, and earlier said the social media network had already spoken to exchanges about the possibility of listing its coin.

Facebook has been working behind-the-scenes on a range of blockchain-related projects ever since it created a specialized unit for the technology, advertising for a range of specialists, and making aqui-hire moves. However, the company has so far remained tight-lipped on the exact nature of its blockchain plans.

Related Posts

This publicly listed company just bought $2 million worth of Bitcoin for its treasury

This publicly listed company just bought $2 million worth of Bitcoin for its treasury

by firstcryptonews
December 30, 2020
0

Bitcoin has seen an influx of institutional adoption over recent months. As has been covered extensively by this outlet, the...

Bullish For Bitcoin: U.S. Federal Reserve Makes Emergency Rate Cut

Japan CBDC has various hurdles to clear before launch

by firstcryptonews
December 23, 2020
0

The Bank of Japan had prioritized the development of a central bank digital currency in July, however, as...

Over 2,000 vending machines in Australia and New Zealand now accept Bitcoin

Over 2,000 vending machines in Australia and New Zealand now accept Bitcoin

by firstcryptonews
June 9, 2020
0

Over 2,000 vending machines in Australia and New Zealand now accept Bitcoin for Coca-Cola products, according to reports. This is...

No Bitcoin Manipulation: Analyst Defends 2020 Price Surge of 57%

No Bitcoin Manipulation: Analyst Defends 2020 Price Surge of 57%

by firstcryptonews
March 7, 2020
0

As the crypto market awaits the upcoming halving, there are naturally many thoughts about the Bitcoin market. Firstly, there are...

Bolstering Adoption: Twitter Unveils New Bitcoin Emoji

Bolstering Adoption: Twitter Unveils New Bitcoin Emoji

by firstcryptonews
February 13, 2020
0

For the first time ever, a social media platform is including a crypto’s special symbol in its list of emojis....

Brexit Is Done: Will Britain’s Departure From The EU Boost Bitcoin Price?

Brexit Is Done: Will Britain’s Departure From The EU Boost Bitcoin Price?

by firstcryptonews
February 13, 2020
0

After three and a half years of a deadlock, the Britain-Brexit breakup is official. The UK officially left the European...

Next Post
Crypto Grand Prix: Binance Coin Led the Race, What About Others?

Crypto Grand Prix: Binance Coin Led the Race, What About Others?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Investment Executives Of Multi-Billion Dollar Firms Are Biting The Bitcoin Pie

Investment Executives Of Multi-Billion Dollar Firms Are Biting The Bitcoin Pie

1 year ago
Bitcoin: Over A Billion Dollars Moved, Community Fears For Further Price Slump

Bitcoin: Over A Billion Dollars Moved, Community Fears For Further Price Slump

1 year ago
dappatoz

Dappatoz ICO success story: Asian Sales Sold Out

4 months ago
Bitcoin Mining Difficulty Will See A Huge Increase – Here’s What It Means For BTC Price

Bitcoin Mining Difficulty Will See A Huge Increase – Here’s What It Means For BTC Price

1 year ago
cfx quantum

CFX Quantum is achieving heights, having most advanced technologies in their “wallet”

4 months ago
Levolution

Levolution – First Token Burn Completed on October 29th, 2019

1 year ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

This publicly listed company just bought $2 million worth of Bitcoin for its treasury

This publicly listed company just bought $2 million worth of Bitcoin for its treasury

December 30, 2020

Recent News

Russian Central Bank Wants to Cap Bitcoin Buying at USD 7,800 a Year

Russian Central Bank Wants to Cap Bitcoin Buying at USD 7,800 a Year

October 14, 2020

Press Release

quiverx

QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding

January 9, 2021

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News