What’s a stablecoin?
Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some “stable” asset or basket of assets. A stablecoin can be pegged to a currency, or to exchange traded commodities (such as precious metals or industrial metals). Wikipedia
Umm, do you live under a rock?
What is Globalcoin?
Facebook’s plan to build it’s commerce system on top of cryptocurrencies. It (a digital currency) will/does include digital payments, prize “money”, merchant payments, money transfers and more.
Why is the CTFC involved?
The two parties are chatting very early in the development of Globalcoin to discuss whether the stablecoin will be under the regulations of the CTFC.
With 2+ billion users, Facebook could/will compete directly with banks and payments processors. It’s scheduled for release in 2020.