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[Blockchain Today Correspondent Han Ji-hye] Meta (Facebook) has organized the cryptocurrency project ‘DM’.
The Wall Street Journal (WSJ) reported on the 27th (local time) that Meta has sold the cryptocurrency development project ‘DM Association’.
According to the report, Meta sold its DM Association development technology to Silvergate Capital, which provides blockchain-related services, for $200 million (about 240 billion won).
Silvergate Capital, a California-based financial firm, planned to issue a cryptocurrency developed by DM Association last year, but failed because it did not get approval from a supervisory authority.
As a result of this sale, Visa, Mastercard, PayPal, etc., which participated in the ‘DM’ project, have left the company. David Marcus, who was in charge of cryptocurrency development at Meta, reportedly left the company at the end of last year.