Could this be the news which helped the CryptoMarket to gain more than 25% in just a Week?
Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20.
The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India.
The Indian remittances market is significant. According to data from the World Bank, the country received nearly $69 billion dollars in foreign remittances in 2017, or 2.8 percent of the country’s GDP.
Facebook’s stance on cryptocurrency has changed significantly over the last year.
In January 2018, the social media network introduced a crypto ad ban, which it said was designed to prevent “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices.”
In May, David Marcus, head of Facebook’s messaging app Messenger, announced the formation of a blockchain exploratory team.
Marcus then wrote
“I'm setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch.” Facebook repealed its blanket ban on crypto ads in late June, while upholding its ban on the promotion of initial coin offerings (ICOs).
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