<a href="https://www.cryptoknowmics.com/crypto/this-latest-who-created-bitcoin-theory-is-the-craziest-one-yet/">Cryptocurrencies</a> continue to become more popular with every waking day and as more mainstream companies continue to adopt or develop them. Facebook, which has always had a complicated relationship with cryptocurrencies, to say the least, has been the latest to announce that they are developing their own cryptocurrency. As we reported, the company's complicated relationship has come in the form of banning the digital assets on its platform, pre-approving for a while and finally lifting the ban altogether.

Earlier this year, after months of been rumored to be working on their own cryptocurrency, Facebook <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=24&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjE7u-ik4fjAhUbbn0KHfvbBoMQFjAXegQIBhAB&amp;url=https%3A%2F%2Ftechcrunch.com%2F2019%2F06%2F18%2Ffacebook-libra%2F&amp;usg=AOvVaw1k7fDgQDGuWeTQ2xHpkS4A">announced</a> it was launching their own stablecoin which could be used across its various platforms- Messenger, WhatsApp, and Instagram. These platforms have billions of users and the adoption of the coin could see the digital market receive a huge boost.

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<strong>Facebook coin yo be a stepping stone in mass adoption of cryptocurrency</strong>

A report by Binance research recently indicated that there is growing interest by large companies to develop stablecoins and this has been evident in recent months with both financial and non-financial companies announcing the launch of stablecoins.

New research has now indicated that the entry of non-financial companies such as Facebook and Samsung, which is reportedly also working on a stablecoin, could be " key growth drivers for both the global payment and the digital asset industry.”

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<strong>The report further stated:</strong>
<blockquote>"These non-financial companies (e.g., Facebook or Samsung) are likely to be less risk-averse than traditional financial companies, and have greater incentive to disrupt the payments industry, with the added ability to execute at a faster, scalable pace."</blockquote>
In addition to these, more potential investors will feel more comfortable investing in the crypto industry after having dealt with a cryptocurrency offered by a central authority such as Facebook. Facebook Coin will expose millions of people to the world of cryptocurrencies and offer relevant information over the use of them. Later, we could see Facebook Coin users become more confident and try out other popular digital assets such as Bitcoin, Ethereum and Ripple's XRP. The Facebook Coin project " could constitute a stepping stone in mass-adoption for cryptocurrency and other digital assets while contributing to the ‘unbanking’ of the payment industry."

New Report Says facebook coin could be the key driver for adoption of cryptocurrencies

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

New Report Says facebook coin could be the key driver for adoption of cryptocurrencies

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