Future Finance
European Firms Welcome U.S. Tech Giants’ Digital Pay Push
- Facebook working on a cryptocurrency for WhatsApp transfers
- Transferwise sees benefits from social media giant’s move
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European financial technology firms, including TransferWise Ltd. and German banking startup N26 Bank GmbH, are embracing plans by U.S. tech giants like Facebook Inc. to push into digital currencies and payments, brushing off potential rivalries.
Speaking at Bloomberg’s Sooner Than You Think conference in London, Taavet Hinrikus, the chairman and co-founder of TransferWise, said he welcomed plans by Facebook to develop a new digital currency that could let users transfer money on its WhatsApp messaging app.