NewsAmazon Announces Virtual Currency

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Amazon has announced that it plans to create its own virtual currency, which it calls “Amazon Coins.” Kindle owners will be able to use the coins to make in-app purchases, and developers will be paid in regular American dollars for those purchases.

The program will launch in May in the U.S. only. And Amazon plans to give away millions of dollars’ worth of coins in order to get users interested in the program. Mobile development firms who would like to update their Android apps to enable them to accept the new coins have until April 25 to do so.

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