Analytics / Forex and Crypto News
Facebook is really developing stablecoin for its new payment system. It is reported by The Wall Street Journal (WSJ).
The report, “Project Libra”, says that Facebook is creating a stablecoin secured by Fiat and attracting "dozens of financial companies and online stores" for the development of the ecosystem. The company is currently negotiating with Visa and Mastercard, as well as the main players in the e-commerce market.
The WSJ article confirmed rumors that Facebook expects to attract $1billion from investors - the money will go to support stablecoin. The company can use stablecoin to encourage users to view ads, as well as to avoid fees for the use of credit cards.
It seems that Facebook - and the report says it - seeks to go beyond the existing financial market. The introduction of cryptocurrency on Facebook, as well as Instagram and WhatsApp, suggests entering the market with 2.5 billion users. The partner of Morgan Creek, Anthony Pompiano, said that Facebook will create "the most used product in the crypto industry", and many agree that the largest social network in the world can greatly influence the mass adoption of cryptocurrencies.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov