Facebook has come under fire in recent years over its handling of users' personal data, and regulators are likely to examine the launch closely. Facebook has revealed that it will launch its ' GlobalCoin ' cryptocurrency as it cements its ambitions in the digital currency and payments industry . The firm has sought both regulatory and operational advice for the project , with CEO Mark Zuckerberg talking to the Governor of the Bank of England and other Treasury officials . To avoid the price spikes associated with other cryptocurrencies , the coin is expected to be convertible to established currencies , such as the dollar and euro . Researches have suggested 100 million of Facebook 's 2.4 billion monthly members use cryptocurrencies . Facebook recently launched its blockchain - focused fintech platform Libra Networks in Switzerland .
Facebook has revealed that it will launch its ' GlobalCoin ' cryptocurrency as it cements its ambitions in the digital currency and payments industry . The firm has sought both regulatory and operational advice for the project , with CEO Mark Zuckerberg talking to the Governor of the Bank of England and other Treasury officials . To avoid the price spikes associated with other cryptocurrencies , the coin is expected to be convertible to established currencies , such as the dollar and euro . Researches have suggested 100 million of Facebook 's 2.4 billion monthly members use cryptocurrencies . Facebook recently launched its blockchain - focused fintech platform Libra Networks in Switzerland .