Facebook plans to launch its encrypted digital currency by 2020

Friday 24th May 2019 - 21:31

Facebook plans to launch its encrypted digital currency by 2020

Facebook is poised to launch a rival to the Betquin currency as early as next year as the company accelerates plans to diversify revenue away from advertising.

Facebook is expected to outline its plans in more detail this summer. Mark Zuckerberg, its founder and director, met with Mark Carney, the governor of the Bank of England, to discuss how to make a Facebook version of the digital currency and discuss the opportunities and risks involved in launching the encrypted currency .

The beta-inspired encrypted currency, GlobalCoin, was to be tested by the end of 2018 with plans for its official launch in 2020 in more than 10 countries around the world.