Prominent Blockchain Backer, Caitlin Long, Thinks Facebook’s Cryptocurrency Will Pay Interest to Users

  • Facebook’s GlobalCoin could provide users with interest on the funds they have
  • The digital asset could help individuals move to Bitcoin

Facebook’s GlobalCoin could be launched as soon as this month according to several reports. The digital currency has not yet been released and there are several commentators that are wondering what will happen with the crypto market after the launch of this digital asset.

Caitlin Long Predicts Facebook’s Coin Will Pay Interest To Users

Caitlin Long, a recognized blockchain expert and the lawyer behind Wyoming’s blockchain regulations, predicts that Facebook’s GlobalCoin is going to be providing interest to users. Although the reports that spread on social media say that the digital asset is going to be released this month, there is no further information about it.

The analyst and expert Caitlin Long decided to make some predictions about Facebook’s stablecoin. She said that it will be a positive force in developing countries. That means that the virtual currency is going to be helping individuals from these nations to perform transfers or make seamless payments for goods and services.

The second thing she said is that it will be paying interest to users of the virtual currency. She announced that this was going to be a polemic comment, considering that there is not enough information about the virtual currency.

The stablecoin could be pegged to the value of a basket of global currencies that will help the virtual currency to remain stable. These millions of funds used to back the virtual currency are going to be held in different banks generating interest. Thus, Facebook will be under pressure to share these funds to users.

At the moment, there are several stablecoins in the market, but none of them is currently paying interest to users. None of them is as large and powerful as Facebook is and what its virtual currency could eventually become.

Regarding the first prediction, there were some reports that said that the digital currency was going to be used in countries such as India in order to be able for users to perform cross-border payments and to receive remittances from other countries. The digital asset could be used through WhatsApp, Messenger and Instagram.

Caitlin Long remains positive about the future of Bitcoin (BTC) because she explained that Facebook’s stablecoin is going to act as a learning curve for new crypto users. Ultimately, these individuals will move to Bitcoin.

Apparently, Zuckerberg and other high range officials at Facebook have been meeting with different regulators around the world to discuss different regulatory issues.

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