The social media platform is making its own cryptocurrency for WhatsApp. Popular Messaging is a WhatsApp company owned by Facebook. The reason for making Facebook’s own crypto is to save users from everyday data leak scandals. That’s why Facebook is working on its cryptocurrency. According to Bloomberg’s report, Facebook is making such cryptocurrency that users will be able to transfer money from WhatsApp.
Let us know that Facebook has been continuously rolling in data scandal since last year. There have been many accusations of putting users’ privacy on facebook too. In such a situation, questionability of Facebook’s credibility was beginning to appear. It is being said that this money transfer service of WhatsApp will be the first of all for the Indian market. According to Bloomberg, the currency of Facebook will be called “stablecoin,”
It will be a kind of digital currency, which will be calculated according to the US dollar. However, it is not yet convinced when this feature will come. But, it is certain that people will be able to transfer money through WhatsApp after becoming a Facebook crypto. Right now, Facebook is still making a strategy on this.