Since last year Facebook has been building it’s Cryptocurrency Coin for WhatsApp. Telegram and Signal are also planing on building and rolling out it’s new CryptoCurrency which are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international borders.
According to five people who briefed on the effort said, The most anticipated and secretive project is Facebook working on the CryptoCurrency coin so that users of WhatsApp, which is owned by Facebook, could send to friends and family instantly. They spoke on the condition of anonymity because of the confidentiality agreements.
Facebook engaged in a conversation with Crytocurrency exxchanges about selling the Facebook coin to consumers, four people already briefed on the negociation. In addition Telegram is also working in launching a digital coin. Signal an encrypted messaging service also has its own coins at work. Likewise Kako and Line, South Korea biggest messaging applications.
The messaging companies have a reach that dwarfs the backers of earlier cryptocurrencies. Facebook and Telegram can make the digital wallets used for cryptocurrencies available, in an instant, to hundreds of millions of users. Telegram has already started sending letters to investors saying the coin is 90% done and ready with the key components of the network that would house the Gram, the name for its digital token.
Should i likely say that Facebook and Telegram coin would make it easier to move money between countries?