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Home / Business / Bitcoin, Ethereum and XRP to Face-Off with Facebook: Crypto Exchanges Reported negotiations with social media Giant to List Facebook Coin

Bitcoin, Ethereum and XRP to Face-Off with Facebook: Crypto Exchanges Reported negotiations with social media Giant to List Facebook Coin



Facebook is currently negotiating with a number of encryption exchanges to get its new Facebook coin listed and bring it directly to consumers, where it will head-to-head with such as Bitcoin, Etherum and XRP.

Four people "informed about the talks" told the New York Times that talks are underway, and Facebook seems to be releasing its new coin in the first half of 2019.

"The Facebook project is far enough along with the network giant has held talks with cryptocurrency exchanges about selling the Facebook coin to consumers, said four people briefed on the negotiations.

Facebook is looking at linking the value of its coin to a basket of different foreign currencies, instead of just the dollar, three people informed of the plans said. Facebook can guarantee the value of the coin by supporting each coin with a set number of dollars, euros and other national currencies held in Facebook bank accounts. "

According to the report, Facebook Be motivated to list their coins on exchanges to help overcome potential regulatory hurdles.

"Work on encryption exchange will take at least some of the regulatory burdens from Facebook, since the exchanges would be responsible for keeping digital coins and wetting customers." [19659002] By listing their coins on a stock exchange, Facebook will give up some control over how users use, trade or transfer it.

"If Facebook goes with a coin, it doesn't completely control it, it would be harder for the company to make money from transaction fees, and it would be easier for criminals to use the coin for illegal purposes.

Facebook employees have told the exchanges that they hope to get a product out in the first hall of the year f. "

It seems that the Facebook coin will not be extracted, which is the same approach that JP Morgan brings with his new coin.

In addition to trading Facebook coins on exchanges, the users on WhatsApp, which Facebook owns, will allegedly be able to send the coin to friends and family immediately.

Facebook is currently working on a comprehensive revision of its messaging protocols designed to integrate Messenger, WhatsApp and Instagram. When it's finished, Facebook's new coin can potentially reach 2.7 billion people using the apps every month.

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