Meta plans to release its own digital currency

Home / Meta plans to release its own digital currency

According to the Financial Times, Meta Platforms (formerly Facebook) has developed preliminary plans to release virtual coins, tokens and credit services in its apps.
Meta Financial Technologies is exploring the possibility of creating a “Zuck Bucks” virtual currency for the meta universe.

The move comes shortly after the Libra/Diem project was shut down.

According to the publication, Meta will not be launching a digital currency on the blockchain. Instead, the company will issue tokens in applications that are centrally controlled by the company.
According to the Financial Times, the project is in the early stages of development. It could be stopped and changed at any time.
Meta is also reportedly exploring the possibility of moving to traditional financial services, such as small business lending.
Financial Times sources said the company is now focusing on NFT. According to the report, a pilot project to launch NFT on Instagram and Facebook could begin as early as mid-May.

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