Facebook’s Libra stablecoin could finally see the light of day as soon as January 2021, according to the recent Financial Times report. The exact launch date of Libra is still not known.
Citing three insiders, the Financial Times reported that the Libra Association plans to add more fiat currencies that would back Libra’s value, besides the dollar.
Libra Association is seeking the go-ahead from Switzerland’s markets watchdog to issue a series of stablecoins backed by individual traditional currencies. However, the launch is expected to happen in January next year.
Facebook has faced regulatory pushback from around the world over its stablecoin project Libra that it announced last year. Due to the regulatory pushback, several companies pulled out from the Libra Association.