Facebook Denies Stellar (XLM) Discussion and Blockchain Partnership, But Facecoin Still a Play?

Facebook Denies Starting Talks with Stellar (XLM)

The famous social network Facebook denies starting arrangements with the cryptocurrency network Stellar (XLM). The information has been released by Cheddar on August the 10th after a conversation the site had with a Facebook spokesperson.

There were some reports circulating about Facebook working side by side with Stellar, but it seems that they were not true. Indeed, the Facebook’s spokesperson said that they were not engaged in any discussions with Stellar and that they were not considering building on top of their technology.

One of the many reports came on Friday from the trusted source Business Insider. At the moment, Stellar did not give any answer on the matter.

Stellar (XLM) is an important virtual currency in the market. Indeed, it has a market capitalization of $4.1 billion dollars and each coin can be bought for $0.21 dollars. Right after the news was published by Business Insider, XLM price skyrocketed 10% in a very short period of time.

Facebook has been in the news in the last days because David Marcus had to step down from the board of directors at Coinbase due to the fact that he needs more time at Facebook. He is now working at the social media giant with a group of blockchain experts to leverage the technology and improve Facebook.

XLM, instead, had a good year and entered the top 6 most important virtual currencies in the market. There are several companies that are working on top of Stellar and using the virutal currency to send and receive payments.

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