Ross Sandler, an analyst with Barclays, says the upcoming Facebook cryptocurrency could generate $19 billion in revenue for the social media giant.

It’s amusing to see how major corporations are now embracing cryptocurrency in order to add another revenue stream. In the past, the same corporations mocked or ignored the promise of virtual currencies, but now that they see they can grab some profits of their own, they’ve become zealous converts. One platform that could make a killing by entering the cryptocurrency ecosystem is Facebook. An analyst with Barclays says that the social media giant’s upcoming stablecoin offering could open up a $19 billion revenue stream.

Facebook Crypto Means Big Bucks

Ross Sandler, an analyst with Barclays, told CNBC that he believes the launch of “Facebook Coin” could bring in up to $19 billion in revenue by 2021. This is in addition to the $3 billion he forecasts that the social media platform will earn just by successfully launching the virtual currency.

Facebook has been working hard on creating a stablecoin that will be tied to the dollar or euro. The company brought in David Marcus, a former president of PayPal, to oversee the blockchain and crypto project. The coin is expected to launch in India across the platform’s WhatsApp due to the fact that the app enjoys 200 million users in that country.

Sandler comes by the $19 billion projection by using the revenue generated by Google’s digital distribution service. Google Play enjoys $6 in net revenue from each user, and Facebook has almost 3 billion users.

Another Revenue Stream Couldn’t Hurt

Sandler points out that creating a new revenue stream for Facebook is smart business. He notes that the social media platform took a hit in trust when Cambridge Analytica, a political consulting company, collected data on 50 million Facebook users without their knowledge or permission.

While the scandal has not derailed the continuing rise in Facebook earnings, Sandler says a new revenue stream is insurance against investors suddenly souring on the company. He says:

Any attempt to build out revenue streams outside of advertising, especially those that don’t abuse user privacy are likely to be well-received by Facebook’s shareholders.

The maturation of the cryptocurrency market makes the development and launch of the Facebook stablecoin a better bet than the company’s “Facebook credits” program back in 2010. There are now more users of both the social media platform and virtual currencies. Plus, the company does not have to bear the brunt of the burden when it comes to the interchange cost. Not to mention that the company also has additional platforms to distribute content (Instagram and WhatsApp) that could use the stablecoin.

Sandler adds:

Based on our checks, the first version of Facebook Coin may be a single purpose coin for micro-payments and domestic p2p money transfer (in-country), very similar to the original credits from 2010 and Venmo today.

If the launch of the supposed “Facebook coin” is successful, it would be a huge boon to the cryptocurrency ecosystem as it would usher in a groundswell of adoption. What’s more mainstream than Facebook?

How much do you think Facebook could earn with its own cryptocurrency? Let us know in the comments below.

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