Cryptocurrencies & Platforms

Facebook Stops Payments In Messenger, Prepares For Its Own Stablecoin?

News is coming out that Facebook will close its P2P payments system on its Messenger app for users in the UK and France from the month of June.

The payments system will only be available for users in the US, the altered documentation now reads. The social media giant obtained a license for P2P payments in 2016, but with the rumors of a new Facebook crypto that would focus on the remittance space in markets such as India.

Facebook to Spur Market Growth?

Anthony Pompliano has said that the next big push in adoption will arise from a company like Facebook, which has billions of users to leverage. With WhatsApp and Instagram also tied closely the Facebook platform, there is a lot of potential for Facebook to spur a growth in adoption. Tipping services have been growing in popularity, with both BAT and the XRPTipBot making the headlines, and it is conceivable that this could be applied to Facebook-owned businesses and apps.

There have also been rumors that Facebook intends to launch its own stablecoin, dubbed ‘Facebook Coin’, and that the company has been looking to raise a staggering $1 billion for the initiative.

Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Share
Published by
Abhimanyu Krishnan

Recent Posts

Is A Silicon City Tech Giant Behind BlockDAG Network As Its $11.4M Presale Outcasts Floki Inu Price Surge Amid BOME Fluctuation

With Floki Inu's next bull run approaching, investors are closely monitoring its innovative token burn…

2 weeks ago

BlockDAG Becomes Top Crypto Investment Choice with $9.9M Presale, Beating Fantom & Apecoin

BlockDAG (BDAG) has continued to stand out with its innovative presale strategy, offering early investors…

2 weeks ago

Render and Dogecoin Price Predictions Defy Expectations As BlockDAG Emerges as the Highest ROI Crypto for 2024

As we venture into 2024, the crypto market is brimming with potential for unprecedented growth.…

2 weeks ago

Solana’s 20% Trading Spike Sparks BlockDAG Presale Interest While Memeinator Presale Reaches Edge

This analysis contrasts the flourishing momentum of BlockDAG coin's presale against the backdrop of the…

3 weeks ago

CryptoGames Review: Bitcoin and Altcoin Casino

Ever wondered what it is like to experience the extravagant casino vibes in the comfort…

2 years ago