Financial Times reports Meta plans to issue its own digital tokens.

Meta (formerly Facebook) is considering the possibility of creating centralized tokens for its own metaverse. This is reported by Financial Times, citing informed sources.

Meta’s fintech arm — Meta Financial Technologies — is reportedly studying the launch of a digital currency that employees call Zuck Bucks.

Sources described the use of blockchain technology in the instrument as unlikely. In their view, it is about a centralized token similar to Robux, which operates in the Roblox metaverse.

«The team is currently trying to find the least-regulated way to offer a digital currency […], with a non-blockchain digital token becoming the most attractive option,» FT sources explained.

According to the FT, Meta is also considering the creation of a “social” or “reputational” token — this is indicated by internal memos and words of people familiar with its plans. It would be intended to reward users who make “significant contributions” to the development of various Facebook communities.

Another potential digital asset — “creator coins” — are used to reward content creators, influencers and Instagram users.

According to the report, Meta plans to expand into traditional financial services. FT sources said the company would focus on providing loans to small businesses. This initiative is at an early stage of discussions, though it has already been discussed with potential lending partners.

Earlier FT reporters learned of Meta integrate NFT into Facebook and Instagram, as well as launching a platform for minting non-fungible tokens. According to new information from the publication, a pilot launch could take place as early as mid-May 2022.

Since 2018, Meta has been developing its own stablecoin Libra. However, in 2019 the company faced regulatory pressure — authorities were concerned about the instrument’s impact on the global financial system.

In May 2020, Meta rebranded Libra to Diem, the digital wallet — from Calibra to Novi. To govern the project, a new operator was created. In December of that year the consortium renamed itself to the Diem Association.

In February 2022, Diem Association announced the sale of Silvergate Capital Corporation‘s intellectual property and other assets related to the Diem payments network.

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