Facebook is developing a stablecoin for users of the popular WhatsApp messenger.
The company plans to launch a service in the Indian market, where WhatsApp has about 200 million active users. In addition, the volume of the money transfer market in the country in 2017 amounted to $ 69 billion, which brought the country to the first place in the world.
At the same time, Facebook Inc. also is working on the concept of custodial solutions for currency reserves at the base of stablecoin, sources say.
Facebook has opened five vacancies for blockchain specialists, including the positions of a researcher and data engineer, as well as a manager of a team of blockchain specialists.
We add that the development of blockchain solutions on Facebook is the responsibility of ex-president of PayPal, David Marcus, who for some time served on the board of directors of the American cryptocurrency company Coinbase.
Earlier, the Basis project, which develops algorithmic stablebcoin, confirmed the rumors of closure due to tight regulation by the US Securities and Exchange Commission (SEC).