According to a tweet from Nathaniel Popper, a journalist at The New York Times, Facebook is seeking up to $1 billion in VC funding, to use as collateral for its soon-to-be-launched stablecoin. Here's a screenshot of the tweet:
Here' s the link to the original thread.
Main takeaways from the tweet:
- this is just a singular report, not confirmed (nor dismissed) by Facebook or a VC
- the total amount will be $1 billion, which is not much, knowing that cash reserves of Facebook last year were estimated at $44 billion
- attracting more external investors into the stablecoin collateral pool will help Facebook project an image of decentralization around this project
My 2 cents:
- Facebook will launch its stablecoin in the first half of the year - which means somewhere in the next two months and a half
- if the asset will be listed on major exchanges, it will create a massive suction effect, drawing more crypto holders to exchange their traditional crypto assets for FB stablecoin's, in order to make remittances or transfers
- the KYC / AML required by FB will be massive and I expect a few hiccups along the way until FB gets it right (which means they will know about you way more than you'd like them to)
I'm moderately positive towards this new development.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me 
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