Facebook announced the timing of the launch of the Libra cryptocurrency

Facebook plans to release its Libra cryptocurrency in January 2021. This was reported by the Financial Times.

The launch will take place in a limited format: earlier, the company planned to release several types of cryptocurrencies, as well as a “digital basket” of them, but so far, it intends to launch only one cryptocurrency, which will be backed by the dollar, follows from the newspaper data.

More currency options will be available at a later date. The exact date of the Libra issue will depend on the timing of its approval with the Swiss financial regulator.

Facebook announced the start of Libra testing last June. The company’s partners are 27 organizations that are members of the non-profit association. These included Visa, Mastercard, Uber, eBay, and Spotify.

A global launch was originally expected in the first quarter of 2020. However, Libra faced harsh criticism from the authorities of different countries. Investors began to lose interest in it.

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