Australian banking executives have described Facebook’s plan to develop its own cryptocurrency as a clear threat to the business, however payment experts were skeptical regarding its potential impact on the local financial sector.
“They’re not the first company to launch a crypto payment solution, however they do have large reach obviously through their Facebook
platform,” said NAB’s
business banking Chief Anthony Healy.
“With a billion plus users on its platform, it’s clearly a threat.”
With over a billion users on its platform, Mark Zuckerberg’s
crypto payment strategy at Facebook is clearly a threat.