WhatsApp Might Launch Cryptocurrency for Money Transfers


WBack in April 2018, Facebook publicized the launch of its very own blockchain department. The news wasn’t surprising at all, granted that most major companies are experimenting with the technology. However, last week, the social media giant announced the start of a hiring spree, with focus on blockchain experts and developers.

Facebook’s sudden increased interest in the market sparked
questions, as people throughout the world begun wondering what the platform was
planning. When announcing the inception of its blockchain department, the
company mentioned that: “Like many
other companies, Facebook is exploring ways to leverage the power of blockchain
technology (…) This new small team is exploring many different applications. We
don’t have anything further to share.”

Well, we finally have the answer. It seems like the company
is working on a cryptocurrency that would be made available on the WhatsApp
messaging application.

As such, WhatsApp is looking to implement some of the
payment transfer functionalities that rivals such as the Chinese WeChat are
already providing their users with. However, the feature will be different,
since the WeChat payment transfer feature isn’t based on a digital currency. With
this in mind, the cryptocurrency will be a ‘stablecoin’. This means that
Facebook will try its best to keep the coin’s volatility as low as possible,
thus tying its value to the US dollar.

Internal sources have stated that the coin is far from being
released, and that development efforts are just being started. Facebook will
also have to devise a financial strategy alongside a method of protecting its
custodial assets.

WhatsApp’s fintech ambitions are understandable, granted its
massive number of users and the afferent potential of the new feature. Additionally,
reports indicate that the blockchain-based cryptocurrency will be first
released in India, where there are over 200 million users of the messaging
platform. Initially, it will serve as a remittance coin – as over $69 million
are sent home by Indians working abroad on a yearly basis. Lastly, India is also
home to a population that is massively unbanked, thus further increasing the
potential of Facebook’s cryptocurrency.

The concept of stablecoins isn’t new to the digital currency market. However, most companies working on such coins haven’t gathered a huge following, because of regulatory issues and the lack of relevant use cases. With the WhatsApp cryptocurrency, however, Facebook may just create a new high-profile cryptocurrency.

Featured Image via BigStock.

binary options europe

Leave a Reply

Your Name (required)

Your Email (required)


Your Message

BonusMin. DepositMax. ReturnsRating
ayrex$10,000$20090%Rating Ayrex Options Review
$10,000$581%broker Rating Freestyle Review
Finmax$10,000$20090% FiNMAX Review
StockPair$20,000$585%broker Rating Falcon Finance Review
24optionUnlimited$25089%Top Binary Options Brokers Rating 24option Review

To invest with binary options you will work with an investment broker who is licensed to work in this field. Working with your broker, you will identify which asset you want to buy an option on, how much you want to invest and when the option will expire. Once the option is placed, you simply watch the trading activity on that asset to see if your prediction was accurate or not.

Binary options are one of the most popular trading choices for investors today, due in large part to their simplicity and the fact that you always know all the risks and payoffs ahead of time.

  • regulated: we promote only regulated brokers whose business models and marketing practices are checked by relevant government authorities.
  • special features: here we list all the important features that a broker offers. These are usually listed as perks offered trough various account types which bring different levels of service, depending on the minimum funds deposited
  • bonuses: almost every Top Binary Options Brokers offers these rewards that increase trading potential. Fair Binary Options also lists terms and conditions that come with the bonus money so traders always know how will these affect their trading efficiency.
  • the best binary trading platforms reviewed: we review the software that makes trading possible. There are several big providers, such as SpotOption, TechFinancials, Tradologic, MarketsPuls… Every software has some special characteristics, and not every software is suited for every trader
  • assets: Fair Binary Options review provides basic info on the amount of assets available for trading
  • customer support: we chat with the customer support to test how the broker has set up the help desk that should support traders. This is the best way to assess the service.
  • payments: we list all the payment options available by the Top Binary Options Brokers, list minimum deposit requirement
  • withdrawals: we warn traders if withdrawal requirements are too high, or if it takes a long time to get the money back.
    • Keras - self-learning NEURAL networks for
      Stock market forecasting
      Get it FREE








      *number of participants is limited

      Customer Testimonials

      Fellas what broker is legit in States ? binary options binary options broker USA?
      FrankyP