A year later, the Libra cryptocurrency operated by Facebook Inc. since 2019 is reported to be launched starting January next year.
However, the launch will only focus on one Libra cryptocurrency only.
Initially, Facebook planned to launch several currencies such as librausd (≋USD), libraeur (≋EUR), libragbp (≋GBP), and librasgd (≋SGD) simultaneously.
However, the decision had to be withdrawn and they decided to launch one cryptocurrency at a time, followed by another currency at a later date.
The exact date for the launch has yet to be identified as they are still awaiting confirmation to operate as a payment service from the Swiss Financial Market Supervisory Authority (FINMA).
According to reliable sources, based on the application submitted in May 2020, it is very likely that the decision will be known as soon as possible in January 2021.
The Libra cryptocurrency plan was announced in June 2019 but had to shrink its plan scale after scrutiny by regulators around the world.
The Libra Association now has 27 members including Facebook subsidiary Novi Financial, David Marcus.
Novi Financial will introduce Novi digital wallet specifically for Libra which is a new payment system which is built based on innovative blockchain technology.
