Sunday, October 25, 2020

Facebook plans its own encrypted currency for payment service via messenger

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

“After evaluating how we provide the best services to people through messenger, we have decided to focus our efforts on experiences that people find most useful,” Facebook official said. It will inform active users before the changes.

According to the site Engadget, the move means that Facebook may turn to its own encrypted currency, a kind of stable money transfer currency, which is said to be specifically linked to the US dollar, and is supposed to be more resistant to the extreme volatility that has rocked the Pitcairn and other coded currencies, as there is no indication yet that Facebook will stop remittances on messenger in other countries.

Facebook payment service via Messenger, launched in 2015, was facilitated by credit card or debit card payment and through PayPal.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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