Facebook is reportedly talking to crypto exchanges about listing its coin
February 28, 2019, 11:47AM EST
1 min read
Facebook has held talks with exchanges about listing its cryptocurrency, The New York Times reports. According to the Times' sources, the Facebook crypto project is "far enough along that the social networking giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers." Facebook employees are telling these exchanges that they plan to get a working product out in the first half of 2019.
In December 2018, Bloomberg reported that Facebook is looking to develop a stablecoin for its WhatsApp users. The New York Times is now reporting that "Facebook is looking at pegging the value of its coin to a basket of different foreign currencies, rather than just the dollar," and that "Facebook could guarantee the value of the coin by backing every coin with a set number of dollars, euros and other national currencies held in Facebook bank accounts."