It’s a pretty long time that Libra is facing regulatory issues. The developers announced the project is ready to launch, but U.S regulators still did not put it under regulations. In addition, European governments are worry about the consequences of Libra project on the economy and financial service providers. In the latest news from cryptocurrency world, Facebook’s Libra changes Its name to Diem. Actually, Libra is re-branding to clear its fans mind about the previous problems, which were facing with.
Libra re-brands to Diem
The developers hoping that the new chosen name will help fans to forget the mass regulatory panic, which made delay in Libra official announcement. In fact, they are re-branding the project to Diem Association.
The chosen new name uses the Latin word “day”. The developers announced in a press that re-branding the project, donates a new day for the project. In fact, Diem Association is going to build a secure, safe and compliant payment system. In addition, it has the potential to empower the businesses and people around the world.
Facebook’s Libra Changes Its Name To Diem; The new logo chose the same as the old one
The Diem Association chose a new logo for its new brand as well. The new logo consists of triple horizontal swooshes and wrote “Diem” with lower case. But, there is no changes in the color of the logo and it’s still in purple color. In fact, the new logo is pretty similar to the old one.
The Diem Association CEO, Stuart Levey, commented that the team is excited to introduce the new brand (Diem). In fact, we believe that the new name reflects the independence and maturity of the brand, Levey said.
As mentioned before, Libra faced many challenges due to regulations over the past 18 months. But, recently many experts are hired, who have experience in regulations in the U.S and other countries.