Facebook, which owns the largest and most popular social network in the world, as well as the most popular instant messaging application WhatsApp, intends to conquer the cryptocurrency market before the end of 2021
According to Arab Net, one of the company's senior executives said that Facebook is preparing to launch a digital wallet that allows users to store cryptocurrencies, which could lead to a major transformation. In this growing market worldwide.
Facebook Chief Financial Officer David Marcus told Bloomberg TV, quickly picked up by Western media, that Facebook feels fully committed to launching its digital wallet, Novi. ) by the end of 2021.
Marcus added that he would prefer to issue (Novi) alongside the cryptocurrency Diem that Facebook is working on, which it says will be a cryptocurrency, but it is characterized by stability and will be linked to the US dollar.
The British Daily Mail newspaper said, in a report seen by Al Arabiya Net, that the launch of the Diem currency is still not yet set, and it is not known if it will see the light before the end of the year current or not.
Marcus, a Diem board member, said: "In theory, we could launch Novi before Diem, but he indicated that launching a wallet without cryptocurrency would be a last resort."
It all depends on how long it takes Dim to come up live and that's not something that's all about me personally.
Marcus told Bloomberg that the US is already lagging behind China at an alarming rate when it comes to accepting cryptocurrencies.
Allowing Facebook's 2.9 billion users to access the $2 trillion cryptocurrency market could be a game changer.
Facebook first announced its cryptocurrency in 2019 and named it Libra, but after opposition from US lawmakers it moved operations to Switzerland and renamed Diem.< /p>
On August 18, Marcus said Diem could be an integral part of the world's secure digital banking services.
