Facebook is going to launch its cryptocurrency project this month

by in Cryptocurrency News

Facebook's cryptocurrency project

The launch of Facebook’s crypto project can happen already this month. At the same time, employees of the company will be able to receive their salaries in the new currency, as it was noted by "The Information".

Related: Facebook presents a new payment system on its social media

According to the publication, Facebook also plans to launch “physical portals”, through which users will be able to acquire a newstablecoin called GlobalCoin.

It is assumed that a specialized structure has been created to manage GlobalCoin. Facebook is currently negotiating withvarious financial institutions and technology companies whose resources will be used by developers.

The publication also claims that the company involves third-party organizations to perform the function of the nodes in itsnetwork. However, for the opportunity to become a member of the network, they will presumably have to spend up to $10 million. Successful candidates will be able to appoint one representative each in the project unit.

The decentralized network at the launch stage is expected to consist of 100 nodes, which will allow Facebook to attract at least$1 billion investment to develop the project.

Earlier in June, it was reported that the company had held talks with the US Commodity Futures Trading Commission.GlobalCoin was the topic of discussion, and as stated, the CFTC was going to find out whether the coin falls under its regulation.