Facebook, Telegram working on their own cryptocurrencies

More than 50 engineers at Facebook are reportedly busy giving shape to the social media giant’s own cryptocurrency and CEO Mark Zuckerberg is quite bullish on the project.

Not only Facebook, highly-encrypted mobile communications apps Telegram and Signal are also on the job to roll out new cryptocurrencies over the next year, But The New York Times also reported on Thursday.

“The most anticipated but secretive project is underway at Facebook. The company is working on a coin that users of WhatsApp, which Facebook owns, could send to friends and family instantly,” said the report, citing people familiar with the project.

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