The social networking site Facebook has announced the launch of its digital currency ‘Libra’ in January 2021.
Libra cryptocurrency could launch in January
According to a report by the Financial Times, Libra, the Facebook digital currency initiative will hit the market in early 2021, but in a more limited format than predicted in previous days.
The Geneva-based Libra Association will unveil a dollar-backed digital currency, the outlet clarifies, citing one of the sources familiar with the situation. Broadly speaking, the combination of several currencies will not occur and this is due to pressure from banks and regulatory bodies.
According to the World News Agency, Facebook has finally announced that it will launch its digital currency a month later, in the first week of January 2021. Facebook CEO Mark Zuckerberg has been working hard since last year to introduce his digital currency, Libra.
According to a foreign magazine, the obstacles to the launch of Libra have been removed, but even in January 2012, only a limited version of the digital currency Libra will be introduced by Facebook. Facebook is currently offering a digital currency in US dollars, but more currencies will be added to the project at a later date.
Earlier, Facebook had decided to offer Libra in the form of digital coins at different prices, but now a change in policy is possible. One of the biggest hurdles in Libra’s offer was that in October 2019, PayPal, MasterCard, Visa, and eBay separated themselves from Facebook’s digital currency project.
Libra’s launch has been delayed due to financial companies distancing themselves from the Facebook Digital Currency project, but will now be available to Libra users with a limited edition in January 2012.
