Categories: Ripple

Facebook Enters the Cross-Border Payment Competition rivaling Ripple (XRP)

Click here to view original web page at

Facebook is currently doing some critical research work in order to create its very own cryptocurrency. This would provide the platform’s users with tons of opportunities to obtain straightforward cross-border transaction without the hassle of costs. All good so far, but for cryptos such as Ripple and others, this means intense competition in the cross-border payment area.

Ripple (XRP) and more cryptocurrencies are working really hard to offer seamless cross-border remittance opportunities. Facebook could become a fearful rival for them soon in the platform goes on with its plans.

An anonymous Facebook source stated to Cheddar that “They are very serious about it.”

A Facebook executive explained that the platform would possibly need to make “acquisitions in the blockchain and cryptocurrency space to develop its own virtual currency.”

Cryptocurrencies give people the power back

Facebook’s CEO Mark Zuckerberg said that cryptos take the power from centralized systems and put it back into people’s hands. “But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services,” he said.

Just after the announcement, Facebook began to remove all crypto related adds from the platform in an attempt to secure users who may be defrauded by fake ICOs.

All Facebook blockchain related areas are controlled by David Marcus, head of Messenger and ex PayPal president and Coinbase board member. He set up a group for exploring blockchain opportunities across Facebook.

“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,” Marcus said.

A Facebook representative told Cheddar that Facebook is currently exploring more ways to leverage the power of blockchain technology, just like many other companies these days.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Overstock Will Champion Crypto Despite Cheerleader Byrne’s Exit

Overstock will continue its crypto and blockchain-centric focus despite Patrick Byrne's exit. | Source: YouTube By CCN Markets : Online… Read More

5 hours ago

59-Year-Old Fjällräven Evolves Retail Landscape by Using Blockchain-Based Cryptocurrency for Back-to-School

BOULDER, Colo. (August 22, 2019) — As brands seek ways to engage new, digital-native communities, Fjällräven, the Swedish heritage outdoor… Read More

5 hours ago

Refining The Travel Industry Through Blockchain

If you have travelled before, then you are aware of the myriads of companies that would be involved in a… Read More

5 hours ago

NBA & Blockchain: glimpse of the future?

These days it seems companies quite enjoy adding “2.0” to the end of everything: Internet 2.0, web 2.0, etc. Well,… Read More

5 hours ago

CNBC Analyst Explains Why He is Bearish on Bitcoin

Share Tweet Send Share Earlier this week CNBC Fast Money host Brian Kelly said he is short-term bearish on Bitcoin… Read More

5 hours ago

New York Gym Grit Bxng Accepts BTC Payments

Who would have ever thought that working out and bitcoin could ever go together? Well, thanks to a new Manhattan-based… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More