FACEBOOK'S 'GLOBALCOIN' CRYPTO WILL BE TIED TO MULTIPLE CURRENCIES

Jun 10,2019 at 06:37 am



This week, more details have emerged about Facebook’s upcoming cryptocurrency project, announced to be called GlobalCoin, and this information come directly from the company.


An interview with German business magazine WirtschaftsWoche, Laura McCracken, Facebook’s head of financial services and payment partnerships for Northern Europe, confirmed that the planned stablecoin will not be tied to any single fiat currency, but will instead be linked to a basket of currencies in order to prevent volatility.


According to the executive, GlobalCoin would be revealed later this month, a white paper for the token would be published on June 18.


Facebook may further set up physical portals for users to purchase the cryptocurrency, as well as charging third parties as much as $10 million for the privilege of supporting the network as nodes, according to The Information.


In other news Max Keiser tweets: 


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