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Facebook is working on a cryptocurrency for its chat service WhatsApp, a New York Times report suggests.
Citing five individuals familiar with the matter, the report explains that Facebook’s “working on a coin” that will allow users to send and receive virtual cash to contacts, in a similar vein to Venmo and PayPal.
Cryptocurrency publication Coindesk confirmed the validity of the report, speaking to a source of its own.
Alongside Facebook’s WhatsApp, two other messaging services Signal and Telegram are also reportedly working on their own digital currencies.
Feature image: WhatsApp