Facebook is now working really hard to design their own cryptocurrency. This update of using cryptocurrency in WhatsApp will bring a big change in the social messaging applications.
WhatsApp has been in the market for quite some time and Facebook has purchased the application a few years back. Now Facebook is trying to update the application of WhatsApp and design a cryptocurrency so that its users are able to transfer money with the help of this application. The main focus of this application is the Indian market.
Facebook will be developing a stable coin so that they are able to make money transfers with respect to the US Dollars. It will take some more time for Facebook to design the application and launch it in the market. It is now working on the plan and strategy of the cryptocurrency. Facebook is also trying to make sure that they are successfully able to protect the value of the cryptocurrency so that it stays stable.
Facebook has been waiting for a long time to make a move in the world of finances and this is a perfect opportunity for them to enter into the financial industry without any problem.
Like most of the tech giants, Facebook is also looking forward to increasing their horizons. With the introduction of cryptocurrency, Facebook will also be able to compete in the world of cryptocurrency.
Cryptocurrency is not always stable and this is the reason, why Facebook is trying to design a cryptocurrency which is stable in nature. All the companies which are working on cryptocurrency have boomed last year and Facebook thinks that this is a perfect opportunity for them to enter the market.
Facebook has come out with a lot of ideas and it is time for them to prove that the ideas could be converted into reality. Facebook has a global customer base of 2.5 billion and they generate revenue of $40 billion every year. With the introduction of cryptocurrency, the revenue of Facebook will double up fast.
This is the first time that a giant like Facebook is launching such a big project for the cryptocurrency. Facebook is seeing a lot of opportunity for growth for cryptocurrency in the global market, therefore; it is trying very hard to design a perfect cryptocurrency for all its users.