June 6, 2023

Facebook Libra rebranding threatened by startup Diem

Facebook Libra rebranding threatened by startup Diem

Fintech company Diem is threatening legal action on Facebook over the giant's plans to use a similar name to rebrand the Libra Staples project.

London-based start-up co-founder Chris Adelsbach says he is ready to fight for a young brand as a giantI didn't even bother to find out if there was already a company with that name in the field, or just wanted to assign it.

Diem representatives are concerned that the association of their activities with the controversial Libra project mayhave a negative impact on the development of their application for The platform also offers users to issue debit cards.

Facebook has not yet commented on the startup's statement.letter asking to stop the rebranding of the cryptocurrency project, and further development of events dependsthe result of negotiations between the parties.