According to a report in The Information, Facebook long-rumored cryptocurrency is all set to be launched sometime in June and will also allow employees working on the project to take their salary in it. The company is further planning physical ATM-like machines where users can buy the currency. Planning to charge companies $10 million each to operate the nodes on its future cryptocurrency network.
Last year, Facebook appointed former PayPal executive David Marcus to explore opportunities with blockchain. Since then Marcus has focused on a digital currency, which users will be able to store, trade, and exchange for regular currency through Facebook apps including Messenger and WhatsApp.
An independent foundation would be managing the network behind the payments. Facebook is aiming to launch the network with 100 nodes. The license to operate would reportedly be $10 million per node, which would mean Facebook pocketing $1 billion.
However, Facebook has declined to comment on the rumor.