Is Libra dead

Share All sharing options for: Libra cryptocurrency project changes name to Diem to distance itself from Facebook. The Libra cryptocurrency is getting a new name today, Diem, in an effort to show that the project has “organizational independence” as it attempts to get regulatory approvals for launch .1 Ara 2020

Diem has been scaled back since it was first pitched as Libra in 2019 by Facebook as a global stablecoin. Like Facebook, the cryptocurrency rebranded, adopting the Diem name in December 2020 as concerns mounted.2 Şub 2022

Facebook intended Diem to be a stablecoin which, as the name implies, is a type of cryptocurrency designed to be less of a financial rollercoaster, its value linked to less volatile assets such as national currencies or commodities.

In December, Libra rebranded as Diem in a renewed effort to gain regulatory approval, with its scope scaled back further to a single dollar-backed digital coin. Currently, Facebook’s digial wallet Novi is one of Diem’s 26 members and a minority investor.12 May 2021