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Report: Facebook developing digital token for payments

Facebook's mobile app icon. Photo: Thomas Trutschel/Photothek via Getty Images

Facebook's new blockchain division, led by ex-Messenger chief (and Coinbase board member) David Marcus, is reportedly developing its own digital token to facilitate online payments for its users, according to Cheddar.

Why it matters: Blockchain tech and digital tokens are all the rage — it's no surprise a giant like Facebook would explore the technology and its potential advantages.

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