The most anticipated stablecoin under the auspices of Facebook could be launched in January 2021

The most anticipated stablecoin under the auspices of Facebook could be launched in January 2021

The Libra Association, led by Facebook, is outlining its plans with a tentative launch date for the first stablecoin.


27 Nov 2020 , 13:01 @ Thomas Alford

The most anticipated stablecoin under the auspices of Facebook could be launched in January 2021

The Libra Association, led by Facebook, is outlining its plans with a tentative launch date for the first stablecoin.
Facebook – Libra

The Libra network is currently experiencing a major shift, as evidenced by several statements from members of the Libra association. It was the first to come up with information from the Financial Times, which received several new and substantial termination from these individuals.

The most important findings are:

  • The first stablecoin should be covered by the dollar, others will be released later
  • The exact launch date currently depends on the payment services license from the Swiss Financial Market Supervisory Authority, FINMA
  • The license could be granted as early as January 2021
  • The Libra Association applied for a license already in April 2020

Facebook is not alone in this and its subsidiary Novi, which takes care of the digital wallet for stablecoins Libra, is already preparing to launch it, writes The Block. A close person stated that the wallet is already “ready from a product perspective,” at the same time, however, he adds that in the beginning it will not be available worldwide.

Read also: CEO of Coinbase is concerned about the regulations that Trump’s government still wants to implement

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