Facebook working on its own cryptocurrency for FB payments

Facebook payments will be powered by FB's own cryptocurrency sometime in the near future.

@anthony256
Published Sat, May 12 2018 2:30 AM CDT   |   Updated Tue, Nov 3 2020 11:51 AM CST

Facebook is making big moves into the world of cryptocurrency with the latest rumors seeing the social networking company working on their own cryptocurrency, a new crypto that would power payments on Facebook.

Facebook working on its own cryptocurrency for FB payments | TweakTown.com

Cheddar is behind the news citing sources familiar with the matter that would see Facebook using their new "digital token" to buy and sell things through the social network. Facebook is reportedly also looking into "other ways" they could use this cryptocurrency.

It makes sense, given that Messenger boss David Marcus, recently leaving the chat app side of Facebook to work in the blockchain department of Facebook. Days later the rumors begin of Facebook kick starting their own cryptocurrency, which totally makes sense.

Remember that Marcus used to be the boss of PayPal, and is on the board of directors of Coinbase, meaning he's uniquely qualified to handle cryptocurrency and blockchain advancements for Facebook... meaning we're in for quite the ride.

NEWS SOURCE:twitter.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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