Dollar stablecoin Facebook Libra to launch in January 2021

The launch of the Libra stablecoin is scheduled for early 2021, but due to regulatory pressure, the first option will only be pegged to the US dollar.

According to the Financial Times, the project is due to enter the market in January, but in a limited form. This is because since the announcement by Facebook in 2019 of plans to launch its own cryptocurrency, the leading countries of the world have begun investigating Libra and in every possible way hinder its development.

Initially, the team planned to create a multi-currency stablecoin. Still, due to pressure from regulators, it was decided to issue a series of digital coins pegged to only one fiat currency.

Now, three Libra members have told FT reporters that the first issue will include only one stablecoin backed by the US dollar 1:1. The issuance of other variants can only begin after receiving approval from the Swiss financial regulator.

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