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Facebook to Launch Foundation for Cryptocurrency Partner Nodes: Report

Facebook is further along with its cryptocurrency than it has let on. It turns out the digital currency is much closer to its debut than expected. The social media behemoth plans to debut its new stablecoin, seemingly GlobalCoin which will reportedly be backed by a basket of fiat currencies, this month, according to CNBC citing The Information. Not only that, but there’s reportedly a crypto ATM and employee compensation involved that had never been leaked before. Facebook is also planning to attach a hefty $10 million fee to partners of a new Foundation who are looking to run nodes for GlobalCoin.