WhatsApp could be getting its own cryptocurrency

Facebook eyes on another dream: After kik, WhatsApp might also be another messaging app to support cryptocurrency payments.

Bloomberg has reportedly mentioned after confirmation of concerned resources about the tech giants new venture for adding cryptocurrency support offered to WhatsApp users. Once implemented, WhatsApp users will be able to to transfer money to each other.

The new cryptocurrency will also most likely be a stablecoin pegged to the US dollar. This will help ensure the users that their transfers will hold their value long enough for the recipient to turn them back into spendable fiat. Most likely, this stablecoin will be available to US only, unless we get some other news from Facebook.

However, we might still have to wait since this is still an initial concept building up in the Facebook ecosystem. Reportedly, the new crytocurrency is in the initial development stages at Facebook.

Things are cooking up at Facebook headquarters and while end users might still have to wait for a while, the new hiring’s at Facebook suggest that blockchain and crytocurrency are the next big ventures included to the platform’s ring.

Via: TNW