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The Financial Times reported
,Libra cryptocurrency is being prepared to be launched in early January. The Libra Association, which will release and manage Libra, plans to launch a digital currency that will be linked to the dollar.
This launch will be a smaller event than a magnitude show proposed in April, which was made following the negative reaction to the project of regulators and the political environment.
Libra, introduced by Facebook last year, has been relaunched in a restricted form after regulators and central banks worldwide expressed concern that the cryptocurrency could alter financial stability and compromise control over money. The Libra Association
of which Facebook is one of the 27 members, wants to get the green light of the Swiss financial market supervisory authority to launch a series of stable coins , correlated with traditional coins, as well as a composite coin, which to be correlated with stablecoin coins.
According to the new plan, other currencies related to traditional currencies, as well as a compound one, would be introduced later, the Financial Times reported.
The Libra Association did not immediately respond to a request for comment. FINMA, the Swiss regulatory authority, did not provide further information beyond a statement in April,
in which he confirmed that he had received an application for a payment license from Libra.
The role of stablecoin coins is to avoid the typical volatility of cryptocurrencies, such as bitcoin, which are, in theory, more suitable for payments and money transfers.
,Libra cryptocurrency is being prepared to be launched in early January. The Libra Association, which will release and manage Libra, plans to launch a digital currency that will be linked to the dollar.This launch will be a smaller event than a magnitude show proposed in April, which was made following the negative reaction to the project of regulators and the political environment.
Libra, introduced by Facebook last year, has been relaunched in a restricted form after regulators and central banks worldwide expressed concern that the cryptocurrency could alter financial stability and compromise control over money. The Libra Association
of which Facebook is one of the 27 members, wants to get the green light of the Swiss financial market supervisory authority to launch a series of stable coins , correlated with traditional coins, as well as a composite coin, which to be correlated with stablecoin coins.
According to the new plan, other currencies related to traditional currencies, as well as a compound one, would be introduced later, the Financial Times reported.
The Libra Association did not immediately respond to a request for comment. FINMA, the Swiss regulatory authority, did not provide further information beyond a statement in April,
in which he confirmed that he had received an application for a payment license from Libra.
The role of stablecoin coins is to avoid the typical volatility of cryptocurrencies, such as bitcoin, which are, in theory, more suitable for payments and money transfers.
