The social media giant Facebook will be releasing its very own cryptocurrency this month.
According to the mainstream news media that revealed the news employees of Facebook are allowed to take part of their salary in the coin.
To quell concerns of centralization, Facebook plans to cede control of the cryptocurrency to outside parties in order to ensure that the digital asset will not be completely centralized.
Those who are interested to take part in the validation of transactions in Facebook’s native token will have to pay $10 million dollars.
The Stablecoin will be use in the payment app that will be integrated on WhatsApp, Messenger and Instagram and will also be accessible through physical ATM-like machines.
It has been reported that Facebook and United States Commodity Futures Trading Commission are taking about the upcoming Stablecoin.
