Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin
Libra will initially be pegged to just one fiat currency. The long-awaited digital currency Libra could finally see the light of day as soon as January 2021, according to a new report.Following more than a year of scrutiny from global financial regulators, Libra will launch in the form of a U.S. dollar-backed digital currency, the Financial Times reported on Nov. 27.Citing three people involved in the Libra project, the Financial Times wrote that the Libra Association plans will eventually add more fiat currencies to the basket of assets that back Libra’s value.Expected in January, the....
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Facebook’s libra cryptocurrency is reportedly preparing to launch with a single cryptocurrency, a scaled-down version of its original plan. The launch date for Facebook’s libra could be as early as January. Launch Date for Facebook’s Libra The cryptocurrency libra, proposed by social media giant Facebook, is reportedly preparing to launch as early as January next year. However, only a limited version of the libra cryptocurrency will launch at that time. According to the revised libra whitepaper, the Libra Association intended to initially launch with some of the....
Libra might eventually get off the ground as early as January albeit in a more limited format.
The Libra Association is rebranding itself as Diem to distance itself from the original multi-currency stablecoin vision as it prepares for a possible 2021 launch.
Stablecoins are an integral part of the future of the financial system. And Facebook’s Diem, formerly Libra, is part of that future. Facebook, it is reported, could launch its long-awaited digital currency as early as January 2021 in the form of a U.S. dollar-backed stablecoin. Central banks and regulators have been galvanized into action since Facebook first announced its intentions by publishing a white paper in 2019. They are right to be concerned, as stablecoins — particularly ones such as the rebranded Diem that have the potential for massive network effects — bring new risks to....
German finance minister says “A wolf in sheep's clothing is still a wolf.” Facebook’s Diem stablecoin, which recently changed its name from Libra, is still failing to impress German regulators.As reported by Reuters, German Finance Minister Olaf Scholz voiced his criticism of the project on Monday after a conference between G-7 finance ministers and central bank directors. Scholz called Facebook’s project “a wolf in sheep’s clothing,” highlighting that changing its name would not change its fundamentals. According to him, Facebook and the Diem Association have failed to adequately address....