Libra's imminent launch is in the rumour mill

Friday 30 October 2020 11:40 CET | News

Libra, the Facebook-backed project, has reportedly been poised to launch in 2020, gathering a roster of big names from banking as well as enforcement, while scaling back on initial ambitions.

Libra may launch a regulated payments system by the end of 2020, according to sources quoted by 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 previously reported.

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Keywords: Libra, launch, Facebook, banking, regulated payments, cryptocurrency, HSBC, Credit Suisse, FINMA, Switzerland, stable coins, single currency, multi-currency, payment tokens
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3