Facebook Plans to Launch its Stablecoin in Q3
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10 May
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Bloomberg reported on April 8 that the social network could be launching its own token in the third quarter of 2019.

Several anonymous sources have told Bloomberg that Facebook, which has originated several rumors over the past year about the fact that it might enter the payments and blockchain markets, is hiring PayPal employees to work on its blockchain project and could launch its own stablecoin in the third quarter of the year.

Last year, Facebook started to hire staff specialized in blockchain in order to develop its own token. The social network put David Marcus, former president of PayPal, in charge of the initiative.

In fact, around 20% of the 50 members that make the team that is developing Facebook's cryptocurrency are former PayPal employees.

In March we reported that Facebook's stablecoin could boost the social network revenues by $19 billion.

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