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Meta may introduce tokens and digital currency lending services to apps: Report

04/07/2022

Less than a minute

2022.04.07 02:08

Meta may introduce tokens and digital currency lending services to apps: Report

Social media giant Facebook’s parent company Meta is reportedly planning to introduce virtual currency named after CEO Mark Zuckerberg as well as lending services to apps it owns, which may include Facebook (NASDAQ:FB), WhatsApp, Instagram, and Messenger.

According to a Financial Times report on Wednesday, the move toward tokens and virtual currency is aimed at exploring alternative sources of revenue as interest in Facebook and Instagram drops. Meta’s potential virtual currency, which employees have reportedly dubbed ‘Zuck Bucks’, will be aimed at use in the metaverse.

04/07/2022

Less than a minute

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