It has been reported for a while now that Facebook is looking to launch its own digital currency that’s commonly referred to as Facebook Coin right now. The company hasn’t made any official announcements regarding this as yet but a new “Pay with Facebook” option noticed by users in Italy suggests that it may not be long before we hear from Facebook about this.
The Pay with Facebook option noticed by several Italian-language Facebook users has a Bitcoin-like icon which hints at the digital currency nature of this payment option. Italian site Mobile World reports that this option has been spotted by users on both the Android and iOS Facebook apps in Italy. There have been no reports of this option surfacing in any other market.
No further details are available about this payment option right now but it seems to be different from the payment service in Facebook Messenger which has been available for a couple of years now. Mobile World reports that this new system works in a fashion similar to Facebook Marketplace where the buyer has to send a payment request first and then wait for it to be accepted. Instead of using funds in their local currency or from their bank account, users will apparently be able to make use of this new digital currency to make purchases.
Reports also suggest that the Facebook Coin could also be used for payments in the company’s other platforms like WhatsApp but all of this is just speculation at this point in time. Nothing has been officially confirmed by Facebook regarding a digital currency.