Facebook to unveil GlobalCoin cryptocurrency this June


In a surprise move, Mark Zuckerberg’s Facebook could be revealing its GlobalCoin cryptocurrency this June.

This is a stark difference to our earlier report that Facebook’s touted GlobalCoin digital currency will be unveiled in 2021.

According to a CoinDesk report which cited a report by The Information, the social media giant could reveal the stablecoin token, a move that could signal the company’s diversification into financial services and the blockchain industry in general.

CoinDesk said in its report that Facebook is reportedly inviting external parties to participate in the network that will empower the cryptocurrency to act as “nodes” for a fee that could be as much as $10 million each.

There are few things that needs to be cleared. Facebook’s token will be a stablecoin meaning that its value would be pegged against the US Dollar. While this might interest many people to have interest in it, the lack of volatility might make the coin suffer a possible apathy in the global crypto community for the reason that there several stablecoins that are already reaching their diminishing point.

It is not also clear if the token will be decentralised like Bitcoin or Ethereum. However, as a highly regulated company, it could be a wishful thinking to think Facebook would launch a decentralized cryptocurrency.