According to the sources, Facebook is developing a stablecoin to allow WhatsApp users to transfer money within the app. India will be the first market to have this service.
The stablecoin will be pegged to the US dollar to minimize crypto volatility. The release date is far from being confirmed, though. The strategy is under works, including topics like custody assets and regular currencies.
Yeah, wow, Facebook is copying everyone and their grandma, again. What else is new? A stablecoin, what a shocker! A stablecoin, pegged to the US dollar – to minimize volatility. FFS! Who still believes in this sh*t, that USD is a trustworthy currency? Do people read the news? Latest stats about US stock markets, anyone? I did the job for you, read and digest it (if you’re educated enough to understand more complicated words, than ‘Merry Christmas”): go url.
India was chosen as a “test”-country since WhatsApp is very popular there: it has over 200 million users. Moreover, India is the leading country in remittances: according to the World Bank data, people sent $69 billion home to India in 2017 alone. Blah blah blah, yeah, because a stablecoin from Facebook is exactly what was missing in India. The savior, hallelujah!
So yeah, there you go. Another day – another sh*tcoin. This time it’s even sh*ttier, because it’s coming straight from hell – THE Facebook.