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Tim Draper is considering investing in Facebook Coin

Tim-Draper-is-considering-investing-in-Facebook-Coin Tim Draper | Well-known venture investor

Well-known venture investor and cryptocurrency enthusiast Tim Draper plans to meet with Facebook top managers in order to discuss the possibility of investing in the new stablecoin.

"I am interested to hear the story," Draper said in an email to Bloomberg News. "We will see if it is a fit."

Earlier it was reported that Facebook plans to attract third-party financing to develop its own stablecoin, while investment may reach $ 1 billion. Several hedge funds and wealthy investors have already expressed their interest in the project, but the social giant itself has not yet confirmed rumors of plans to attract third-party financing.


Bloomberg notes that Facebook is still very far from issuing its own cryptocurrency, the development of which, according to publication sources, began in December last year. Stablecoin is expected to be tied not to a single fiat currency, but to a whole basket of currencies, so the volatility of the coin will be quite small.


It is also reported that Facebook Coin will be used in the popular WhatsApp messenger, which was purchased by the social network. With the help of cryptocurrency, messenger users will be able to exchange money, and India should become the first country where such opportunity will appear.


Earlier, billionaire Tim Draper expressed confidence that cryptocurrency will replace conventional money within five years. 

SOURCE

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