Former PayPal president plays down crypto support on Facebook Messenger

Crytocurrency payments won’t hit Facebook Messenger in the near future, David Marcus, Facebook’s vice president of messaging and former head of PayPal, has said.

Facebook’s reluctance to embrace cryptocurrency has been put down to fear of security and fraud, protecting users from betting too much on a volatile token. Here, however, Marcus pointed to high transaction fees and slow transaction times.

He told CNBC: “Once the industry self regulates a lot better and you have better more legit products that want to be advertised on the platform. When we get to that stage, we’ll figure out a way to reintroduce these things.”

The door has been left open, then, but cryptocurrency will need to evolve in order to be embraced by services such as Messenger.