Dollar stablecoin Facebook Libra to launch in January 2021

The launch of the Libra stablecoin is scheduled for early 2021, but due to regulatory pressure, the first option will only be pegged to the US dollar.

According to the Financial Times, the project should reachmarket in January, but in a limited form. This is due to the fact that since Facebook announced plans to launch its own cryptocurrency in 2019, the leading countries of the world began investigations into Libra and in every possible way hinder its development.

Initially, the team planned to create a multicurrency stablecoin, but due to pressure from regulators, a decision was made issue a series of digital coins pegged to only one fiat currency.

Now three Libra members told reportersFT that the first issue will include only one stablecoin backed by the US dollar 1: 1. Other variants can only be released after receiving approval from the Swiss financial regulator.

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