It is not a brand new feature since Meta has been rolling it out for selected regions over the last few months. However, Meta has confirmed that all users will soon have access to a new Link History archive. These will be available on both Android and iOS and not desktop as of now.

The new Link History on Facebook will allow you to easily find links you have interacted with within the app.

You can enable link history at any time. When link history is enabled, all links you've tapped on within Facebook and visited in Facebook's Mobile Browser will be logged here for 30 days."
 
Facebook also adds that links you have visited via private chats on Messenger are not saved to link history while you may remove links from your history at any time,.

It could come in handy for finding that one time you saw that thing on Facebook, but to be honest, you can't recall exactly what it was, although you do have "Recent Ad Activity" within the app, tracking ads you've interacted with. So it's probably not going to change the game, as such, but it does give one more way to monitor your Facebook activity.

And for Facebook, it also provides another way of keeping tabs of your interest.

As illustrated in the above screenshot, Meta may also use your Link History information to show you more relevant ads in the app.

But it's a price that most users are used to by now, but do note this listing may impact the ads you're seeing. So if you don't like the ads you are seeing, visit your "Ad Preferences", then also delete any links to things that may be skewing your targeting.

Meta said nothing about when the Link History Archive feature will be rolled out to all regions, but it is already underway to expand this feature to all mobile users.