Vkontakte, a Russian social media platform and subsidiary of Mail.ru Group, is reportedly working on a cryptocurrency. According to RNS, a Russian news outlet, Vkontakte’s plan involves the creation of cryptocurrency wallets for its 50 million users on the social media platform. The project, if approved, will enable users to store and transfer Vkontakte’s native cryptocurrency.
Vkontakte becomes the second social media giant reported to be planning a native cryptocurrency for their platform. CryptoSlate has reported on a number of steps taken by Facebook which suggest that the company may be coming out with a native cryptocurrency as well.