September 26, 2023

David Marcus: Libra will be released in 2020

David Marcus: Libra will be released in 2020

Libra Project Manager David Marcus said that despite regulatory pressure, the company is still planning launch stablecoin next year.

In an interview with the Swiss newspaper NZZ, Marcus said that Facebook is preparing to launch its own cryptocurrency in 2020. He declared:

We are still planning to launch Libra next year. Until then, we must adequately address all incoming problems and create an appropriate regulatory environment.

Since the first official announcement, the projectLibra has been criticized by many regulatory authorities around the world. As previously reported, recently the office of Chancellor Angela Merkel approved a strategy that impedes the development of the Libra project and other stable coins issued by private companies.

In an interview, Marcus also said thatdoubts that people will use Libra for daily transactions. In his opinion, the new cryptocurrency will mainly become a means for conducting quick and cheap cross-border payments. He said:

In any case, it is unlikely that residents of Germany, Switzerland or France will use Libra to buy coffee or breakfast.

Recall that on September 16, 2019, 26 representatives of central banks, including a representative of the US Federal Reserve and the Bank of England, met with Libra project managers.

According to the materials