Libra may launch a regulated payments system by the end of 2020, according to sources quoted by finews.com. Libra, which recently scaled back on initial ambitions for a global cryptocurrency, didn’t provide a comment on the matter. The project attracted experts from banking rivals such as HSBC and Credit Suisse, and a former US attorney.
Switzerland-based financial regulator Finma declared in May 2020 that it is reviewing Libra's application to establish a payments system. Swiss officials didn’t approve the original plan which included ambitions for Libra's payment system to support single-currency stable coins as well as the multi-currency Libra payment tokens, as finews.com previously reported.
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