Facebook is venturing into the cryptocurrency space for the second time and at least one major Wall Street firm sees substantial upside if the company is able to monetize a cryptocurrency via the social media giant. Facebook has been developing a cryptocurrency that could be part of a multibillion-dollar revenue opportunity, according to the financial giant Barclays. Huge Revenue Opportunity While is is not clear exactly how Facebook will monetize a FaceCoin, Barclays is forecasting an additional $19-billion in revenues by 2021. The cryptocurrency is being developed on a blockchain platform that will be used for global payments. The company reportedly is planning to use its WhatsApp platform to allow users to send payments instantaneously using the Messenger app. Facebook has not publicly commented on the reports. One of the big differences between the FaceCoin and other cryptocurrencies is that the digital Facebook currency would be a stable coin, tied to the value of fiat currency such as the dollar. This would weed out speculators as there would not be the likelihood of the price diverting from a fixed level. A New Revenue Stream Facebook is looking to monetize some of its assets, as target marketing to users on its platform has come under fire. Expanding into payments could give Facebook another way to generate revenue. Barclays bases its Facebook revenue estimates off of Google’s digital distribution service, which is also the official app store for Android’s operating system. Google Play, generates $6 in revenue per user now. A Facebook virtual currency would allow for more premium content to find its way back to Facebook, according to Barclays, as companies re-establish themselves on the social network as a strategic partner. Issues With Payments in the Past Facebook attempted a digital coin in 2010 that failed. Facebook credits were developed to be similar to a cryptocurrency. Users would prepay for these virtual coins using fiat currencies, and then use those credits for purchases of apps. The company required a user to pay using a debit or credit card upfront. The issue was that Facebook had to incur the changing fee from fiat currency to a cryptocurrency which negatively impacted the value of the coins and the company’s ability to generate a profit. In the last decade, the company has become much larger and has many apps and additional social media platforms,...