Facebook likely to announce own cryptocurrency in Q3 of 2019

  • Facebook is currently hiring blockchain experts including staff from PayPal.
  • Facebook warms up to cryptocurrencies; lifts crypto-related ads ban ahead FB Coin launch.

Facebook is rumored be preparing to launch its own issued crypto asset. The social media behemoth is currently hiring blockchain experts including staff from PayPal as per a report by Bloomberg. The crypto plan for Facebook has been around for a year now but the company has not yet officially confirmed its impending involvement with the cryptocurrency industry.

The report says that Facebook could finally announced the stablecoin on the Q3 of 2019. The teams that Facebook has hired over the past 12 months come from leading payment platforms like PayPal.

As reported by FXStreet earlier today, Facebook has loosed its stand on cryptocurrency related ads that had been banned since January 2018. Advertisers will no longer need to be pre-approved to run advertisements on the website. However, ICO related ads will not be permitted in spite of the change in the policy.

By lifting the ban, Facebook has been interpreted to be warming up to the digital assets as it inches closer to the launch of its own stablecoin who trademark “Libra has already been secured.

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