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Facebook’s digital currency, Libra, will be launched in January 2021

The long-awaited digital currency Libra finally saw the light of day in January 2021, according to a new report.

After more than a year of review by global financial regulators The scale is to be introduced in the form of a digital currency backed by US dollarsReported Financial times November 27th.

The Financial Times quoted three people who were involved in the Libra project The Libra Association’s plans will eventually add more fiat currencies to the basket of assets that will support the Libra’s value.

Facebook’s digital currency, Libra, will be launched in January 2021
Facebook’s digital currency, Libra, will be launched in January 2021

It is expected in January The exact release date is not yet known and would depend on it if the Libra Association receives official approval from the Swiss Financial Market Supervisory Authority (FINMA)to operate as a payment service.

A FINMA spokesman declined to comment to Cointelegraph on the possible launch of the scale in January 2021. Referring to an announcement regarding the digital currency licensing process, the representative said: “In line with normal practice, FINMA will not provide any public information about the status of the ongoing proceedings or speculate about when it might be completed.”.

The Libra Association has not yet responded to Cointelegraph’s request for more information.

Started in June 2019, The Libra Association has undergone significant regulatory scrutinywhich caused several member companies like PayPal and MasterCard will later leave the project. The basket of currencies that originally supported Libra would contain multiple fiat currencies, including the US dollar, the euro, the Japanese yen, the British pound and the Singapore dollar.

According to the Financial Times, several Libra members believe the Appointment of HSBC’s Chief Legal Officer, Stuart Leveyas CEO was a turning point for the Libra project.

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