Skip to main content

Facebook’s Libra Crypto Gets Ready to Launch in January as a Single Coin

Facebook's Libra Crypto Gets Ready to Launch in January as a Single Coin

Facebook’s libra cryptocurrency is reportedly preparing to launch with a single cryptocurrency, a scaled-down version of its original plan. The launch date for Facebook’s libra could be as early as January.

Launch Date for Facebook’s Libra

The cryptocurrency libra, proposed by social media giant Facebook, is reportedly preparing to launch as early as January next year. However, only a limited version of the libra cryptocurrency will launch at that time.

According to the revised libra whitepaper, the Libra Association intended to initially launch with some of the currencies in the proposed libra basket, such as “librausd or ≋USD, libraeur or ≋EUR, libragbp or ≋GBP, librasgd or ≋SGD),” the association explained. However, the Financial Times reported Friday:

The association would now initially just launch a single coin backed one-for-one by the dollar … The other currencies and the composite would be rolled out at a later point.

The exact launch date for the libra crypto would depend on when the project receives approval to operate as a payments service from the Swiss Financial Market Supervisory Authority (FINMA). Three people familiar with the matter told the publication that it could come as early as January. Libra’s application was initiated in May.

Facebook unveiled the libra project in June last year and later scaled down its plans after being scrutinized by regulators worldwide. The Libra Association has 27 members currently, including Facebook’s David Marcus, who is Head of Facebook’s subsidiary Novi Financial, formerly Calibra. According to Facebook, “The first product Novi Financial will introduce is the Novi digital wallet designed for Libra, a new payment system which is built on innovative blockchain technology.”

What do you think about the libra crypto launch? Let us know in the comments section below.

The post Facebook’s Libra Crypto Gets Ready to Launch in January as a Single Coin appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/3lcoLqd
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more