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Companies wanting to help manage one of the 100 nodes on Facebook's cryptocurrency network will reportedly be charged a hefty fee.

Facebook is reportedly planning to charge companies $10 million each to operate the nodes on its future cryptocurrency network.

The social network could be launching its own Facebook cryptocurrency as early as 2020.

An independent foundation would manage the network behind the payments. Facebook is aiming to launch the network with 100 nodes, according to a Wednesday report in The Information (via The Block).

New details have emerged on Facebook's planned cryptocurrency, with several outlets reporting that The Social Network is finalizing plans to launch its own 'GlobalCoin' option early in the new year.

As per BBC News:

"Facebook wants to create a digital currency that provides affordable and secure ways of making payments, regardless of whether users have a bank account. The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs."