Uber, PayPal, and Visa to support Facebook’s Cryptocurrency

Last Modified:8 Jul 2019 15:10:57
Uber, PayPal, and Visa to support Facebook’s Cryptocurrency

These days that we approach introducing cryptocurrencies, namely, Facebook’s stablecoin, this giant of the digital world is among the hot news more than any other time. All want to know more about the new Facebook project. What is obvious is that there will be many aspects that this company applies to develop its stablecoin. A reputable and equipped company like Facebook has planned for its increasing prosperity and bloom for its new presence in the world of digital currencies surely through marketing plans, creating appropriate infrastructures and most importantly cooperation with other well-known companies. According to the recent reports, important companies such as Uber, Visa, and PayPal intend to support Facebook’s stablecoin.

Facebook Defines an Exact Outlook for the Growth of Stablecoin

With including Blockchain technology and its belongings, many technology giants like Microsoft and Facebook started thinking about new measures about this new phenomenon. The world of new technologies is very fluent and dynamic and if any enterprise cannot go along with and be adapted to it, the probability of its drop and exiting the cycle of the competition will strongly increase. Through careful investigations on the status of cryptocurrencies and Blockchain, Facebook, like Microsoft and other companies has decided to release a stablecoin to the market which is supported by actual currencies like the dollar and can achieve an acceptable legitimacy in the world of cryptocurrencies. Visacard, PayPal, and Uber, each one has invested $10 million in Facebook’s new project. Such cooperation causes Facebook to proceed faster and easier in the way to grow and bloom and of course, being accepted by the global markets.

Facebook Has Targeted Retailers

Considering opposite news that have been published about different aspects of the Facebook project so far and the fact that the company itself acted a little cautiously in giving information, it is not yet clear when we will face this stablecoin. However, reportedly, Facebook’s focus for using this cryptocurrency is on the area of retailers; that is, it is planned that Facebook’s stablecoin which is called Global Coin, will be delivered to the users in a simple infrastructure like WhatsApp, Instagram, and Facebook Messengers. The users can do financial transactions with the help of this stablecoin and through messaging platforms such as WhatsApp. Stablecoins are beneficial in purchasing from retailers, and it shows Facebook’s provision in this project.

Since the application of Stablecoins in retailers can lead to the growth of their use among the public and help its development effectively, Facebook has targeted a wide and extensive outlook and has planned to complete this project with special care and precision successfully. Of course, it is just a prediction about Facebook’s stablecoin to be used in retailers, and the company itself has not yet confirmed it. Anyway, such a possibility enjoys high capacities to grow.