Facebook Denies Rumors of Partnership Discussions with Stellar

Social media giant Facebook has reportedly denied any potential partnership with cryptocurrency firm Stellar, shortly after rumors emerged that discussions had taken place between the two entities.

A report from a business publication, citing unnamed sources, indicated that Facebook was in talks with the company behind the sixth-largest cryptocurrency by market capitalization regarding a potential fork from the main Stellar network. Sources from Stellar suggested that it would be beneficial for Facebook to utilize a distributed ledger like Stellar for recording payment transactions.

However, following the emergence of the rumors, a spokesperson for Facebook dismissed the claims while speaking to a financial outlet. The representative stated that there were no discussions related to a partnership with Stellar.