Although Facebook’s plans to issue its own cryptocurrency still lack official confirmation, more details are becoming public ahead of the launch.

Facebook will publish White Paper of its cryptocurrency, which will be called either GlobalCoin or Libra, on 18 June, TechCrunch reports citing Facebook's head of financial services & payment partnerships for Nothern Europe Laura McCracken who revealed the data at Money2020 conference. It is also expected that the digital currency will be issued at the end of this month.

Facebook traditionally refused to comment on rumors about its crypto project.

According to The Information, Facebook will create an independent fund for managing digital assets, which will include third-party financial institutions and technology companies.

The first stage supposes that approximately 100 nodes in the GlobalCoin network will be launched. Their fee income is expected to reach $1 billion in total. But companies will have to pay at least $10 million if they will to become GlobalCoin nodes. Although there are few technical details about Facebook's digital currency, the architecture of the network is likely to be similar to the delegated Proof-of-Stake (DPOS) of the EOS network.

Facebook also increases the number of blockchain specialists working in its crypto department. The social network has about 28 vacancies for blockchain technology specialists opened at various Facebook offices, which include Singapore, Hong Kong, Tel Aviv, Washington District, and Silicon Valley.