Facebook cryptocurrency in the works

Facebook is plotting the launch of its own cryptocurrency, according to a report by Cheddar.

This quotes anonymous sources who claim the social media giant is “very serious” about plans to roll-out an in-app virtual coin. The news closely follows the announcement that David Marcus, head of Facebook’s Messenger offering, is set to front a new blockchain division. In a Facebook post, Marcus said: “After nearly four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge. I'm setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch.”

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