Facebook plans cryptocurrency launch next year

Facebook has been in contact with US and British financial regulators to bring ‘GlobalCoin’ which would work with a new digital payments system in about a dozen countries.

‘GlobalCoin,’ starting in the first quarter of 2020. , the broadcaster said on its website. Facebook’s currency would be “stablecoin”, a digital unit pegged to the dollar in contrast to more anarchic means of virtual payment such as bitcoin.

Facebook chief Mark Zuckerberg has said that adding e-commerce is the logical evolution of the company’s advertising-based business model.