GlobalCoin could do what bitcoin has failed to do in its 10-year history by achieving mainstream adoption.
Facebook is weeks away from launching its own cryptocurrency, with reports suggesting it will be available within its suite of apps, as well as through ATM cash machines.
Rumours of the bitcoin-style currency have been circulating since early last year, when Facebook created a new blockchain division within its company.
The social network, which is used by more than two billion people around the world, is yet to officially reveal any details but various leaks have given an indication of what to expect.
Most recently, TechCrunch spoke with numerous investors briefed on the project, codenamed Libra, about how the cryptocurrency will be rolled out across the technology giant’s social media and messaging apps, which include Instagram, Messenger and WhatsApp.
Users of the apps would even be able to buy the GlobalCoin cryptocurrency, as it is reportedly called, from physical locations like ATMs.