- Tram Ho
Libra, Facebook’s crypto currency, will be ready to be released in January, according to the Financial Times quoted unnamed members participating in the project. Libra will be a form of money “stablecoin”, supported by price stability by USD.
Stablecoins are a cryptocurrency designed to avoid free price fluctuations like Bitcoin or other cryptocurrencies. The price stability of stablecoins is supported by traditional currencies or collateral. Stablecoins generally used for payment and money transfer are more flexible.
Libra, Facebook’s cryptocurrency, will be ready for release next January.
The Libra Association, the organization that manages the Libra coin that Facebook initiated and is one of 27 members, originally planned to ask the Swiss authorities to mass issue the stablecoin, as well as a real cryptocurrency. based on stablecoins.
However, up to now, other currencies as expected will be delayed for launch. Facebook will only have the Libra coin. This shows that the project must be scaled down, after encountering doubts from the authorities.
Facebook announced the Libra project last year. Since then, the authorities and central banks of countries have expressed concern that the cryptocurrency could upset financial stability and undermine monetary governance.
In April this year, the Swiss Financial Market Authority (FINMA) confirmed that it had received an application for a payment license from Libra.
Source : Genk