There’s been a lot of information circulating that Facebook is moving into the crypto market. And while some of this information is outright false, other bits are true — at least, that’s what the sources say. Take today, for example. On Friday, BBC said Facebook (NASDAQ:FB) is going to roll out GlobalCoin next year in several countries.
Here’s everything we know.
Facebook’s GlobalCoin Hitting the Market Soon?
According to BBC, a London, UK-based broadcasting company, Facebook is planning to roll out its cryptocurrency “GlobalCoin” in 2020. The online media giant, according to the BBC report, will launch the crypto-based payments system in roughly 12 countries by Q1 2020. And while that might seem far away, BBC also said Facebook plans to commence trials by the end of 2019. That and Mark Zuckerberg’s company has also already gone to the U.S. Treasury for advice.
More details about GlobalCoin are expected to be announced in the coming months. And while the world does need these additional details — the influence Facebook has on the world is huge, so the possibility of the company moving into crypto is extremely significant — Facebook seems to already be benefiting from the BBC report. Well, maybe not benefitting, but at least FB stock didn’t plunge after the report on GlobalCoin came out.
According to Yahoo Finance, as of 3:44 PM EDT, FB stock is trading at $181.19; this puts FB stock up 0.18%.
Takeaway
As mentioned, Facebook launching its own cryptocurrency is massive. Companies like Facebook and Amazon are constantly moving into different sectors of the market successfully, and the launch of GlobalCoin in a dozen countries would be yet another example of this.
What do you think, though? Should Facebook launch GlobalCoin? If so, which countries should gain access to the cryptocurrency?
Let us know what you think in the comments below, and don’t forget to follow along with this story in the coming months!
Featured image: DepositPhotos
