After many delays, internal changes and rebranding, it is possible to finally launch the cryptocurrency project for Facebook by the end of this year 2021, according to “CNBC”.
Facebook will start with a small coin backed by a single, stable currency, and will focus on transactions between individual customers.
Citing a person familiar with the matter, “CNBC” reported earlier today that the “Diem” association plans to launch its long-awaited stable currency by the end of 2021.
When launching the product, the Switzerland-based company will focus on transactions for individual customers, including the potential to purchase goods.
The report confirmed that there is no official launch date yet.
Previously, Diem’s chief economist Christian Catalini indicated that the project was actively negotiating with regulators in order to define a phased approach prior to its official launch.
“Once we see the green light,” Catalini added, we will start experimenting with a small number of users and a small number of players.
The Facebook-backed stablecoin was announced as “Libra” in 2019, and it has faced intense scrutiny by watchdogs for its initial aspiration to serve as a single global digital currency.
Tensions escalated with the withdrawal of many partners from the project, including some of these first supporting names such as “MasterCard”, “Visa”, “Spotify”, “Uber” and “Paypal” …
To overcome and move away from setbacks, the entire project received a complete transformation in its path.
The stablecoin has been renamed from “Libra” to “Diem”, and the “Calibra” wallet, formerly called “Novi”, has become.
Additionally, some reports claimed that the Novi team planned to build a wallet to hold several cryptocurrencies.