In brief: Cryptocurrency transfer via WhatsApp in the works at Facebook, sources say

Facebook is working on creating a cryptocurrency that will let users transfer money on its WhatsApp messaging app. The company is developing a stablecoin, a type of digital currency pegged to the US dollar, to minimize volatility. Facebook is far from releasing the coin as it’s still working on the strategy, including a plan for custody assets. It will first focus on the remittances market in India.

Source: Bloomberg