TechCrunch reports that Facebook is working on a full webmail system to replace their current messaging platform, including full POP and IMAP support and a customized @facebook.com e-mail address. The codename for the new system: Project Titan.

In the TechCrunch post, Arrington suggests that Facebook has been working towards a webmail service for some time, expanding their messaging platform to be searchable and allowing Facebook users to send messages directly to non-Facebook e-mail addresses. The site has also shown interest in giving its users a more accessible and more complete online identity with the recent implementation of personalized URLs and the proliferation of Facebook Connect login on third party sites.

Project Titan would take this effort a step further, giving users a personalized username@facebook.com e-mail address and letting them access it on Facebook itself or independently via POP and IMAP. Facebook already has 175 million people logging into their site each day, but adding a true webmail solution would be a strong step in their transformation from a centralized communications hub to a broader platform for staying connected online. [TechCrunch]