Facebook cryptocurrency to allow user transfers on its WhatsApp messaging app
- developing a stablecoin (a digital currency pegged to the U.S. dollar)
Bloomberg with the news, adding:
- Pegging coin to USD will help minimize volatility
- Facebook to focus first on the remittances market in India
- Release of the coin is not imminent
Here is the full Bloomberg report
Facebook shares have fallen big time this year, as has Bitcoin and its crypto brethren.
I' really better insert something about shutting the stable(coin) door after the horse has bolted
