Facebook Remains An Advertising Company

摘要

Facebook has obtained e-money licences in both Spain andrnIreland in recent months, allowing the company to offerrnfinancial services across the European Union (EU). Therncompany has already introduced peer-to-peer payments on itsrnMessenger platform in the US, and will look to launch a similarrnproduct in Europe. Facebook may look to offer more financialrnservices in time, but we do not think it will turn into a fullyrnfledged bank, because of privacy and regulatory concerns.rnInstead, we believe this is a tool for Facebook to furtherrnconsolidate its advertising business in markets where growthrnis stabilising.