The company first announced the launch of Diem (formerly Libra) in 2019, but regulatory pressure prevented Facebook fromimplement your plans.
According to the Wall Street Journal, Meta Platforms Inc is closing the Diem Association division and selling the technology to Silvergate Corporation for $200 million.
Trying to get regulatory approval, Facebookrenamed his coin Diem and scaled down his ambitions to the US – the company announced the release of a stable coin pegged to the dollar. Later the project manager – David Marcus – left the company.
Meta and Silvergate have not yet commented on the news about the purchase of the project.
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