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Facebook to Launch New Digital Currency for WhatsApp Users

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Facebook is reportedly working on its own digital currency, despite banning ads for cryptocurrency earlier this year, according to Bloomberg.

Citing Facebook insiders as its source, Bloomberg has said the company is developing a type of ‘stablecoin’, which is a digital currency tied to the US dollar – and in theory, it’s more stable than cryptocurrencies like Bitcoin as a result. 

According to the article, the new currency will allow users to transfer money via its mobile messaging service WhatsApp.

The new currency will allow users to transfer money via its mobile messaging service WhatsApp. (Shutterstock)

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