July 21, 2024

David Marcus: Libra will be released in 2020

David Marcus: Libra will be released in 2020

Libra project head David Marcus said that despite regulatory pressure, the company still planslaunch 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 come under fire from multiple regulators around the world. As previously reported, Chancellor Angela Merkel's cabinet recently 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.

Based on materialswww.cryptoglobe.com