Updates on Facebook's Libra – the project is still on

Thursday 5 March 2020 07:03 CET | News

Facebook has been reportedly rethinking its plans for its own digital currency after resistance from regulators, according to BBC.

The tech company is now considering a system with digital versions of established currencies, including the dollar and the Euro, according to Bloomberg and tech site The Information. Furthermore, the Libra Association, which Facebook founded to create the currency, will continue its work. Facebook’s partners in the Libra Association include Lyft, Spotify, Shopify, but several other high-profile members such as Visa left after the idea was criticised by authorities.

The social network’s digital wallet, Calibra, is now expected to launch this autumn, several months later than initially planned. Of earlier reports that it might drop Libra itself, BBC mentions that ‘Facebook remains fully committed to the project’.

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Keywords: Facebook, Libra, Calibra, Libra Association, digital currency, regulators, cryptocurrency
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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