The social media giant has met with Jump and DRW, Chicago's largest high-frequency trading firms, as well as cryptocurrency exchanges including Coinbase and Gemini, according to the FT. It is probably assembling the partners and digital infrastructure needed for its users to safely store their digital coins, exchange them for other cryptocurrencies or conventional currencies, and make payments.
Facebook is working on a virtual checkout that would allow users to pay with its coin across the internet, according to the Journal. It's also exploring ways to reward users with fractions of coins for watching adverts, engaging with content, and making purchases, the newspaper reported. The prospect of a Facebook coin lifted cryptocurrencies on Friday. Bitcoin climbed 5% to around $7,960, while ethereum and bitcoin cash jumped about 7% and litecoin surged 11%.
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