June 6, 2019, | AtoZ Markets - According to the latest media reports, the social media giant Facebook plans to launch its Global Coin for the public use this summer. To be exact, the Facebook Global Coin launch dates is set in June 2019.
Facebook is finally launching its GlobalCoin?
The discussions around Facebook’s crypto have started this year when multiple media outlets reported that Facebook is preparing to launch its own cryptocurrency dubbed as'' Facebook coin'' in the first half of 2019.
Back then, the reports added that the digital currency will be pegged against the USD and will, therefore, be made a 'stable coin'. Later, the name of the digital currency reportedly was changed to “Global Coin.”
According to the different media outlets, Facebook-owned crypto will enable users to process transactions via the social media channel. In addition, the Facebook Global Coin will be offered to the company’s employees who want to be paid in the form of the cryptocurrency.
In addition, the media announced that Facebook plans to create physical portals for users to purchase GlobalCoin.
Facebook also reportedly invites external parties to participate in the network, which will allow cryptocurrency to act as “nodes” for a fee, which can be up to $ 10 million each.
Recalling the events that lead to the Facebook GlobalCoin launch
News about the launch date of Facebook Global Coin comes amid recent reports about Facebook founding the Fintech company in Switzerland. The company dubbed as Libra Networks as the media reports, would focus on the blockchain, payments, data analytics, and investing. Facebook seemingly has taken the crypto adoption seriously and it does not want to lag behind its competitors.
Last month It was reported that Facebook GlobalCoin launch date is set to 2020. The company was planning to start trials by the end of this year.
Since Facebook hired former PayPal president David Marcus to oversee its Messenger app in 2014, the company's venture into financial services become just a matter of time. Later, Marcus appointed as head of Facebook’s blockchain initiatives in May of last year.
It is worth to mention, that Facebook user base counts more than 2.5 B globally and revenue of more than $40 billion. These numbers show that Facebook could be a perfect company to launch its own coin as it has an adequate amount of funds as well as a massive userbase for mass adoption.
Think we missed something? Let us know in the comments section below.