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The story of Facebook’s first digital currency

Quick Take

  • 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.