Facebook may launch multiple fiat-pegged cryptocurrencies instead of synthetic unit

As Libra suffers severe criticism, Facebook is developing other options to launch it

                                

Facebook's David Marcus, who is leading the Libra project, revealed that the company could have multiple fiat-pegged cryptocurrencies instead of a synthetic one, Reuters reports.

Marcus took part in a banking seminar and answered questions about the crypto project. He revealed that the stablecoin tied to the basket of multiple assets is no longer the main option: “We could definitely approach this with a multitude of stablecoins that represent national currencies in a tokenised digital form.”

He further explained that Libra could have "a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stable coin, etc."

According to Marcus, the Libra project needs to demonstrate a lot of agility to launch the project.

Facebook revealed its highly anticipated cryptocurrency Libra in June. The blockchain ecosystem for Libra is set to launch in the first half of 2020, along with the company’s own crypto wallet Calibra.

Initially, over 25 major companies, such as Visa, Uber, MasterCard, eBay, PayPal, and others, joined Libra Association. However, due to the regulatory pressure both in US and EU payment systems and booking companies withdrew from the project.

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image