June 7, 2023

Calibra wallet will support state cryptocurrencies

Facebook has slightly changed its plan to launch Libra stablecoin. Apparently, the Calibra wallet will be support not only its own cryptocurrency, but also digital state currencies.

Such a move should soften the position of regulators,which, after the presentation of the Libra project, reacted to stablecoin as harshly as possible. Perhaps if the positions of regulators soften, then the social network will really manage to launch Libra by the end of this year. At the same time, the launch of the stablecoin and the Calibra wallet will happen at the same time.

In case of support of state cryptocurrencies,Calibra wallet users will be able to exchange digital yuan, dollars or other currencies around the world. You can also shop through the Calibra app. In addition, support for Libra and other digital currencies should appear in WhatsApp and Facebook Messenger.

The goal of the Libra project is to providefinancial services to people who do not have access to banks. After the announcement of stablecoin, politicians and regulators from around the world have opposed the development of cryptocurrencies. So, the chairman of the financial services committee of the House of Representatives of the US Congress Maxine Waters (Maxine Waters) said that the US should not allow Libra to compete with the dollar.