Libra is a cryptocurrency, which is introduced by the social media giant, Facebook. However, it is introduced as a type of stablecoin at first, the idea behind it, is changed now. Recently, developers announced that Libra will be launched in January 2021. The Libra underwent numerous changes so far. Even the executive replaced. In addition, it passed a lot of inspections from the world regulation authorities. Some partners left Libra project half-way. Those partner include Mastercard, PayPal, eBay, Vodafone, etc.
Now, Libra is designed to use as a way to transfer money online. Although, it faced with many regulation challenges so far, apparently it is launching and starting to work again. It’s a long time that Facebook Libra is struggling in order to pass the standards and regulation especially in the United States. Finally, the project is ready to launch, but, it would not be the same as the original idea.
Libra will be launched, but, not the same as original idea
Although, Libra experienced long delay introducing to the market, it will be launched in 2021. But, the new version of Libra would be somehow different from the original idea. It was initially planned to release the project in the middle of the year 2020, but in the recent updates the company announced that Libra will be launched in January 2021.
The Finance Times stated that the three developers, who are working on the project claiming that the long-awaited Libra will start working in January 2021. However, it would be a kind of scaled-down version.
In line with Wallebi, Libra changed its original idea from just being a “single global digital currency” in order to create a series of different digital coins.
The Financial Times mentioned that Libra is going to enter a new era after receiving approval for its operation as a payment service from the Swiss Financial Market Supervisory Authority (FINMA). In fact, the Libra foundation would initially launch just a single coin, which backed one-for-one by the dollar.