Rumor: Facebook is considering rewarding watching ads with stablecoins

Facebook is considering allowing users to earn the stablecoin the company is working on by watching ads and paying for products with the coins through ads. For that, the company would be in talks with payment providers and e-commerce companies.

Facebook has been working on an ecosystem for the stablecoin for over a year under the name Project Libra. The token is linked to the value of the dollar and to counter volatile exchange rate fluctuations, the company would like to maintain a reserve of one billion dollars. The social network is said to be in talks with Mastercard and Visa, among others, about the project, as well as with unnamed e-commerce parties. This is reported by the WSJ citing sources familiar with the plans.

In addition to enabling mutual transactions between users and online payments on the internet, Facebook would like to link the coin platform to advertisements. The company is said to be thinking of paying users in tokens when they watch ads. In addition, users must be able to click on ads to buy products with the cryptocurrency, after which the advertiser can use it again to buy new advertising space.

The WSJ also writes that Facebook wants to get rid of the commission of 2 to 3 percent that sellers now pay for transactions with, among other things, credit cards. This would make the social network a threat to the position that Mastercard and Visa, among others, have in the field of payments worldwide.

At the end of last year, Bloomberg announced that Facebook was working on cryptocurrencies. The company would like to enable payments via WhatsApp in this way, starting in India.