Bitcoin Forum

The rumors of the Facebook crypto project is getting clearer on daily basis, now over the news, it is said that Facebook has form a new Fintech Company in Switzerland.

Full story here: https://www.cryptoinformers.info/news/141-facebook-forms-new-fintech-firm-in-switzerland

So apparently this new company will be independently working on the fb crypto and blockchain project and i guess the team of developers for the project will also be working from this office. I would like more if fb actually adds and implement btc, eth and other major coins in their platform along with their own coin when the platform is ready as this will be very positive and will boost crypto market as well.

This isn't an official statement from facebook. Yes, it's their firm in Switzerland but it doesn't mean that it's the rumor that they are going in for the stable coin. We have not seen any announcement from facebook about this kind of matter.

A kind of report, a rumor, we still don't have validation. We can misunderstood that it's part of their expansion, I have read the article and searched for other related articles and majority of them says that facebook should public it already to break the rumors.

It would be better if we patiently waited for the next news that was more certain from Facebook. I hope Facebook will explain the crypto project roadmap and of course it can grow well and be useful. The world has known Facebook as a great social media, it's time to widen its popularity in cryptocurrency. I am very happy with this news. Thank you sir.

I think bitcoin and eth are now have a great opponets that is facebook crypto. All we know that facebook is the most popular social media so I think people can easy adopt and patronized fb coins easily. I hope it has a more security features so it people will not afraid to invest even it is a new crypto.

Based on the article they are hiring people on board for the coming launch of their coin, that would be in time for the next big bull run that is expected to happen next year, things are looking good for all of us, Facebook is the biggest news in the community, I hope no more exchange hacking coming our way.

I think this is just the beginning of Facebook with the blockchain, but they are a large corporation and acquire a lot of startups so it is not certain that this will make them create their own coins like recent speculation.

It is still speculation until they actually create one of their own, but there are preparing for something probably their own coin and they are positioning themselves to launch it in the right time, they do not want to make it half baked and they will eventually launch it, when the right time comes.

What is clear for now is that Facebook and most probably its other owned social media platforms will be joining the cryptocurrency frenzy by introducing its own coin which millions of its sites' users can use especially maybe to buy ads. I am likewise hoping that Facebook can launch a revenue sharing program using the new coin and of course should it also open itself to other major cryptocurrencies then that will be so great (though I am doubting it).

I am now wondering: Is this move into cryptocurrency going to boost the business and long-term viability of Facebook? At the same time: Will this soon make Mark the King of Cryptocurrency?

This could just be another type of their marketing. Spread as many rumor or teaser so the public will remain engaged and talk about them every now and then. They need to stay relevant in this fast changing crypto market.

That's not true and did you know if switzerland is the one of the best friendly crypto country in the world? remember there was a lot of problem to facebook to deal crypto any other strict countries like US.
Yo should watch news about that and that country can become the best place because there was a lot of legalization to the crypto.
Facebook may think about that possibility.

But still there is no proof what about they will release any cryptocurrencies yet or any official announcement.
Every companies trying to integrate blockchain their work. It is so normal. But releasing cryptocurrencies is extraordinary thing all market.

Though there's no confirmation yet but very likely the new fintech firm is from Facebook. However, this doesn't have any relation with Facebook issuing its own stable coin. It's undeniable that blockchain is an innovative technology so sooner or later, tech giants will take an eye on it. Anyway, good news for blockchain in general and somehow good for cryptocurrency in particular, though.

Oh it’s really great news may be this could be the reason for current pump happening . Finally greenish days coming to crypto market with lots of great newsws also .

they may eventually be forced to do that when their centralized token fails but i seriously doubt that they would add bitcoin to their platform any time soon.
the thing is that they are looking for a fully centralized token they can control and track user's transactions like Paypal and similar payment systems. that is why they are creating it.

It will be their first step to start on doing the blockchain that will going to be the backbone of that said facebook crypto coin. With their resources, it is considerably better to start on their own with knowledge than to affiliate their project with the already established ones. It is much safer. Good work.

They are really taking this seriously but the details are still cloudy. I mean why are they exactly wanting a crypto currency for themselves? What is their full purpose? They have been on the Washington radar for a while now for checking peoples information and selling that data to whoever wants to buy it so they are really not the most trusted company in the world, why would I want them to now control over my wallet as well? Why would I want them to have that type of power when I am not even happy with them having more information let alone my money?

They would now check us spend that money and see what we spend it on and then collect that data and sell it to corporations labeling who buys what and that will be another invasion of our privacy by them to make a profit.

It was a good tactic move from Facebook to ban cryptocurrency advertisements and a meantime they worked on their own cryptocurrency.

All what we hear is rumors and news that are unverified. Has the owner of Facebook come out openly to talk about the Facebook coin yet? If it really happens, I think it will have a great impact on the crypto space cos already many are looking forward to it.

I do not know the truth of this news, but I believe social media will someday use cryptocurrency as a payment tool, let alone we know that social media is now the easiest way to develop cryptocurrency, such as Facebook used by billions of people in the world, the potential for development will very large.

Facebook does not need to create a new company to launch a cryptocurrency, if they are doing this it's for another reason, most probably, a strategic investment. On the other hand, fintech does not necessarily mean blockchain.

This news is official.  Facebook has indeed registered a new FINTECH company, Libra Networks LLC, in Switzerland. I think it will be a breakthrough in the crypto space, it will be very interesting.

It's a preparation for their grand entrance to cryptocurrency, after all these years they will soon have one, maybe this is what we all need to attain another all-time high, honestly, those huge drops after the all-time high made people think that Bitcoin is a bubble that finally burst with a second all-time high we can erase those notions.,

And for sure that's the very reason why FB is doing this stuff, even there's no clear statement yet from the team behind facebook the very possible thing that they will do is to create their own crypto for dealing with payment process, we also knew that facebook have advertisements and some businesses that being performed inside this social site, it's easy for them to adopt and create this system for much faster process.

I've read in one of the media reports that Facebook had indeed set up a company in Switzerland - the "Libra Networks" that will focus on blockchain and payments. Stated also in that report was Facebook is currently working on the development of its own digital currency which will be called “Facebook Coin", that will be functional over the company-owned WhatsApp network.
If this is true, will this be beneficial to more than 2 billion FB users? I still cannot picture clearly in my mind the real purpose of this Facebook Coin.
However, i'm still giving the benefit of the doubt to Mr. Mark Zuckerberg - up until he fully explains and/or acknowledge the reality of this reports.

They want the attention of the public focused on what they are developing. As crypto is on trend now, they are riding the hype but if its a real project and development for their stable coin, crypto will also get the attention from their users.

Why people like this kind of rumor/news is because it's a big company. And while we're waiting for their announcement, a lot of articles are coming out to attract more excited people about them.