Facebook Building Cryptocurrency-Based Payments System
The Wall Street Journal | Thu, May 2, 2019
by AnnaMaria Andriotis, Liz Hoffman, Peter Rudegeair and Jeff Horwitz
Facebook Inc is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system on the back of its gigantic social network.
The effort, should it succeed, threatens to upend the traditional, lucrative plumbing of e-commerce and would likely be the most mainstream application yet of cryptocurrency. It comes as the social-media giant is under intense pressure from regulators, users and shareholders to address privacy shortcomings.