Facebook has reportedly held discussions with major crypto exchanges in order to have its cryptocurrency listed. Rumors started swirling last year following a revealing Bloomberg report.
It divulged that the social media giant was working on a stablecoin targeting Indian WhatsApp users. A desire to enter the country’s burgeoning remittance market was cited as the main reason behind the move.
New York Times reporters Nathaniel Popper and Mike Isaac broke news of the latest development on Thursday. According to their post, Facebook has been working on a cryptocurrency that they plan to incorporate into WhatsApp. The WhatsApp messaging app boasts over 1.5 billion users while Facebook’s user base exceeds 2 billion. This is according to statistics from Statista.
This gives the two platforms an unrivaled reach advantage over mainstream crypto transfer competitors. Should the company officially launch its crypto project, new demographics will undoubtedly be carved out and uncharted markets opened up.
The New York Times report…