New Cryptocurrencies Announced, Difficulties Integrating Crypto With Banks Persist

According to recent reports, a leading social media network and a global messaging firm will each launch their own cryptocurrency over the next year, allowing users to send cryptocurrency across international borders through their respective messaging systems. The social media network's cryptocurrency reportedly will be pegged to the value of a basket of different foreign currencies, rather than just the U.S. dollar. The global messaging firm's cryptocurrency will operate like a traditional cryptocurrency, with fluctuating values and a decentralized design. Meanwhile, Tether has announced plans to launch a new cryptocurrency backed one-to-one by U.S. dollars in partnership with the Tron Foundation. Tether currently offers a cryptocurrency for the bitcoin and ether blockchains that is tied to the U.S. dollar.