WhatsApp and parent Facebook are working on making a cryptocurrency that will let users transfer money on the messaging app, focusing first on the remittances market in India.
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Facebook Is Developing a Cryptocurrency for WhatsApp Transfers.
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The company is developing a stablecoin -- a type of digital currency pegged to the U.S. dollar -- to minimize volatility, said the people, who asked not to be identified discussing internal plans. Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin, the people said.
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