Is Facebook Becoming A Bank?

interesting facts about facebook

Nobody knows for sure, but there are some interesting facts starting to pile up as it pertains to the social media giant and financial services. It is a fact that Facebook is exploring various partnerships to create a financial ecosystem, launched the merchant platform to compete with classified ads, and is actively pursuing launching its own cryptocurrency.

Perhaps this is the biggest motivation of all – the fact that bans earn about $700 per user per year and Facebook earns less than $10 in revenue per year per user.

‘Project Libra’ is the code name for Facebook’s cryptocurrency project. More information is found here on that project.

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