Limited Facebook’s Libra Might Be Launched in January – Report

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Linas Kmieliauskas

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Linas Kmieliauskas

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June 26, 2023 06:55 EDT

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Facebook-led digital currency Libra is preparing to launch as a single coin backed one-for-one by the dollar as early as January, the Financial Times reported, citing three undisclosed people involved in the initiative.

The other currencies and the composite would be rolled out at a later point, the report said, adding that the exact launch date would depend on when the project receives approval to operate as a payments service from the Swiss Financial Market Supervisory Authority.

Meanwhile, one person involved in Novi, the developer of digital wallet designed for Libra digital currencies, told Financial Times that the wallet was “ready from a product perspective”, but would not be rolled out everywhere initially, with the company prioritizing “half a dozen high-volume remittance corridors” including the US and some Latin American countries.

Learn more:
Facebook’s Libra Has Changed. But It Still Might Be a Win for Bitcoin
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Digital Yuan Rollout Is ‘Response to Facebook’s Libra’