Facebook Developing its own Cryptocurrency for Whatsapp Users

Facebook is reportedly developing its own cryptocurrency. The cryptocurrency will enable WhatsApp users to transfer money. WhatsApp will be first seen focusing on the remittances market in India and the currency will be called stablecoin.

As of now the company is in the process of developing the overall strategy as there are other things which need to be looked after including custody assets.

It also remains unclear when the feature is said to go live. Facebook by introducing the cryptocurrency is trying to expand itself in the field of finance. WhatsApp is a very popular social media platform and currently is used by more than 200 million people.