Share this article
'Facebook Coin' Could Generate Billions in Revenue: Barclays Analyst
A note from Barclays analyst Ross Sandler sketches out how much Facebook might gain from developing its own cryptocurrency.
By Zack Seward
Updated Sep 13, 2021, 8:58 a.m. Published Mar 11, 2019, 7:45 p.m.
Facebook's reported stablecoin project could be a significant moneymaker for the social media giant, according to Barclays analyst Ross Sandler.
In a note to investors first reported by CNBC and later obtained by CoinDesk, Sandler says Facebook's cryptocurrency efforts could yield anywhere from $3 billion to $19 billion in additional revenue by 2021. To put that estimate in context, the Menlo Park, California, company brought in $40.6 billion in total revenue in 2017, with $39.9 billion from advertising.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
However, the analysis hinges on whether "Facebook Coin proves successful in reinvigorating FB’s micro-payment strategy for digital content distribution," Sandler wrote.
Sandler also sees two primary challenges for Facebook achieving its crypto goals: "demonstrating a value prop for users above what is available today in payments" and overcoming consumers' "trust issues after 2018’s problems."
In an apparent bid to account for said trust issues, CEO Mark Zuckerberg issued a lengthy post last week calling for Facebook to become more privacy-oriented in the years ahead. While "cryptocurrency" isn't mentioned, payments and encryption are frequently invoked.
Face from the past
Sandler of Barclays noted that much remains unclear about Facebook's crypto project. However, there is a precedent for virtual currency on the social media site: Facebook Credits.
“Facebook coin may simply be [looking] to process micro-transactions and re-invigorate the original business model that was in place in 2010-2012 under Facebook Credits,” Sandler wrote. “However, the scope of the project could be much larger, especially considering David Marcus (former CEO of PayPal) is heading up the project.”
Indeed, Facebook has been on a hiring spree on the cryptocurrency front in recent months, with a hiring push and at least one startup acqui-hire.
Underscoring the breadth of the recruitment program, Facebook’s careers website now lists 20 job openings related to the technology.
Facebook image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
ARK steps in as crypto stocks extend multi-day selloff
Cathie Wood’s ARK Invest added to Coinbase, Bullish, Circle, and crypto miners during a continued drawdown that pushed listed crypto equities deeper into the red.
What to know:
- Cathie Wood's ARK Invest purchased nearly $60 million in crypto equities, including significant investments in Coinbase, Bullish, and Circle.
- ARK's strategy involves buying during market drawdowns, as evidenced by their recent purchases amid a multi-day slide in crypto stocks.
- Crypto stocks have been declining, with Bitmine, Circle, CoreWeave, Coinbase, and Bullish all experiencing notable drops.
Top Stories
