Facebook's Libra to launch in January 2021: CoinDesk Report

Friday 27 November 2020 09:06 CET | News

Facebook’s stablecoin, Libra might get off the ground as early as January 2021, albeit in a more limited format than the original multi-currency basket envisioned, according to CoinDesk.

Citing the Financial Times, CoinDesk mentioned that the Libra stablecoin project might launch a single dollar-pegged stablecoin in 2021. In June 2019, the project proposed that Libra might be pegged to a basket composed of multiple fiat currencies. But the plan was reconsidered by project leaders in April 2020 because of regulatory pressure from lawmakers in the US and abroad.

The project’s leaders announced Libra could launch as a series of stablecoins (e.g. LibraUSD, LibraEUR, LibraGBP, LibraSGD), each pegged to a fiat currency, rather than one multi-currency basket during that revamp.

Spokespeople for the Libra Association did not immediately return a request for comment, the online publication added.

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Keywords: LibraUSD, LibraEUR, LibraGBP, LibraSGD, Libra, Facebook, stablecoins, regulators
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3