Does Facebook want to allow its users to make blockchain-based payments?

The social media giant’s blockchain team, led by former PayPal executive David Marcus, has held talks with open-source payments platform Stellar, Business Insider reported Friday, citing anonymous sources familiar with the discussions.

The talks were in early stages, and there was no indication they will lead to a partnership, the publication added. Such talks could be a sign Facebook wants to get into payments processing, potentially making it a rival of large banks.

Following the Business Insider report, however, a reporter for news network Cheddar tweeted that Facebook said in a statement, “We are not engaged in any discussions with Stellar, and we are not considering building on their technology.” Read more here.

ThirtyK Staff
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