The ambitious project of the private stablecoin Libra, backed by the American company Facebook and the Libra Association initiated by it, may be launched in January next year.
At least he says so in his report Friday’s Financial Times with reference to the three sources participating in the project.
However, the project will not start working in its original form (presented last June). Instead, a much more modest form is to be seen, which will not be such a big thorn in the side of financial market regulators. The most visible change is the very fact that instead of a basket of assets (fiat currencies, bonds and digital assets), for example, the value of the Pound should be tied to only one legally defined currency, the US dollar.
TIP: Why central banks are afraid of Facebook Libra and what it says
According to FT, the Libra association is now also trying to obtain the approval of the Swiss regulator to issue fiat currencies bound to stablecoins and subsequently currencies bound to these stablecoins.
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