Mercado Libre is soon going to integrate digital currency of Facebook on its e-commerce platform. Moreover, the company has the capacity to market more than 200 million people. The company is headquartered in Buenos Aires, Argentina.
Mercado Libre will back Facebook’s Crypto Project
Mercado Libre is incorporated in the United States. Besides, it is said to be the most famous e-commerce site in Latin America. Also, it is expected to back Facebook’s Cryptocurrency Project. Many other companies are also showing their interest the Facebook’s new stable coin project.
Update on Facebook's cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b.
— Nathaniel Popper (@nathanielpopper) April 8, 2019
On June 14, the company also shared some details with Cointelegraph Brazil. There are high chances for Facebook to launch a new blockchain project in the cryptocurrency market in the forthcoming week. Moreover, the company is going to implement Virtual currency as a form of payment on Facebook.
What is the plan of Facebook?
Facebook wants to target a large number of people. Plus, it knows that the strategic companies that are linked to the technological world are spread all over the market. Even large companies like Uber are interested in investing $10 million on Facebook’s blockchain project.
Moreover, Facebook is planning to target users in different regions from different parts of the globe. However, the executive of Mercado Libre did not confirm whether the company will work with Facebook for their new project.
Besides, there is a high probability for the company will be a validator. Also, the company has been talking with high executives from Facebook. So the rumours were true and Facebook cryptocurrency is going to be revealed on June 18.
Check out The Geek Herald for more exciting updates.