Facebook cryptocurrency could bring in 19 billion USD in revenues

In a recent report on CNBC, the writer reports that Barclays has stated that Facebook could be developing an entirely new revenue stream with payments. Barclays see as much as $19 billion in additional revenue in its “upside case” for Facebook by 2021 if its cryptocurrency plans work out. Facebook has been reported as developing a cryptocurrency for peer to peer payments

The social network is reportedly developing a cryptocurrency that could be part of a multibillion-dollar revenue opportunity, Barclays internet analyst Ross Sandler said in a note to clients Monday.

Sandler forecasted as much as $19 billion in additional revenue by 2021 from "Facebook Coin." Conservatively, the firm sees a base-case of an incremental $3 billion in revenue from a successful cryptocurrency implementation. Facebook is reportedly developing a cryptocurrency for global payments that will be tied to the value of traditional currencies and available to use through its messenger "WhatsApp," according to Bloomberg and The New York Times. Facebook has not publicly commented on the reports.

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