Why is Facebook's coin now closer than before?

in HODL2 months ago

More than a year ago, the promotion of the launch of a Facebook digital currency began to be called Libra, and now they have begun to change the name to Diem.

And it seems that the matter is still in the circle of rumors, and Facebook has not started any official or legal steps to create its own digital currency.

But why is Facebook's coin now closer than before?

After many delays, internal changes and rebranding, it is possible to finally submit the digital currency project to Facebook before the current year above 2021, CNBC indicated.

Facebook will start with a small currency that will be backed by stable individual funds, and will focus on exchanges between individual customers.

According to an individual familiar with the matter, the organization recently intends to send its highly anticipated stable funds before the end of 2021.

When sending the item, the grouped organization in Switzerland will focus on exchanges for individual customers, including the possibility of purchasing goods.

The report confirmed that there is no date of dispatch to the party yet.

Indeed, Christian Catalini, Diem's ​​chief financial specialist, showed that the mission was actively negotiating with observers to characterize a phased methodology before sending its authority.

"When we see the green light, we will start trying different things with a few operators and a few players," added Catalini.

The Facebook-backed stablecoin was announced as "Libra" in 2019, and it faced an exceptional investigation by guard dogs for its inherent desire to operate as single computing money around the world.

Tension spilled over as many of the accomplices withdrew from the mission. Part of these names includes the primary sponsor, for example, "Expert Card", "Visa", "Paypal" ...

To stay alive and get away from difficulties, the whole mission got a total change on its way.

The stablecoin was renamed from “Libra” to “Diem”, and the “Calibra” wallet, formerly called “Novi”.

Moreover, some reports confirmed that the Novi Group intends to manufacture a wallet containing a small number of digital currencies.


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