- According to Ross Sandler, an analyst at Barclays, “Facebook Coin” could yield anywhere from $3 billion to $19 billion in additional revenue by 2021.
- Facebook Coin also notes that Facebook Credits” serves as a precedent for virtual currency on the social media site.
As per Barclays analyst Ross Sandler, Facebook’s stable coin project could yield anywhere from $3 billion to $19 billion in additional revenue by 2021. According to Sandler, “Facebook Coin proves successful in reinvigorating FB’s micro-payment strategy for digital content distribution.”
Sandler also notes that “Facebook Credits” serves as a precedent for virtual currency on the social media site:
“Facebook coin may simply be [looking] to process micro-transactions and re-invigorate the original business model that was in place in 2010-2012 under Facebook Credits. However, the scope of the project could be much larger, especially considering David Marcus (former CEO of PayPal) is heading up the project.”
Sandler also notes how the first version of Facebook Coin may look like:
“Based on our checks, the first version of Facebook Coin may be a single purpose coin for micro-payments and domestic p2p money transfer (in-country), very similar to the original credits from 2010 and Venmo today.”