Social media giant Facebook is expected to launch its own “GlobalCoin” cryptocurrency in 2020. According to a report from the BBC, Facebook is planning to launch the cryptocurrency-based payments system in “a dozen countries” by the first quarter of 2020, while it plans to begin trials by the end of this year.

Coindesk reports that Facebook has also asked for advice from officials of the U.S. Treasury and the Bank of England governor Mark Carney, in regard to opportunities and regulatory issues for the initiative.

According to the FT, two people familiar with the matter mentioned that Facebook has been in contact with both Coinbase and Gemini exchanges seeking to prepare third-party, regulated platforms for users of its coin to store and exchange the asset.