- In January 2011, Facebook officially launched Credits, a digital currency to simplify payments on its platform
- Credits had some initial success before being officially removed from Facebook’s platform in 2013
With the news that Facebook is getting closer to launching its “GlobalCoin” cryptocurrency, I wanted to take a quick historical dive into Facebook’s previous major foray into digital currencies: Credits.
In January 2011, Facebook officially launched Credits as a way to simplify payments on its platform. Credits enabled users to purchase items on applications built on Facebook.