Facebook Inc. and Libra Association partners are considering reorganizing the project to soften the position of regulators. In this way, the Libra model may be revised in favor of the inclusion of several coins in the system, including those issued by central banks, reports Bloomberg.
According to sources familiar with the situation, Libra may be reorganized to a payment network that will work with different coins, rather than a single digital currency, as previously planned.
Nevertheless, as one of the sources indicated, the Association will not completely abandon the latest ideas. The new plan will be the scaling of the original plan and will be presented in the near future.
Launching Libra as a payment network rather than a digital currency for ordinary users can put it on a par with existing payment systems like PayPal, Bloomberg emphasizes.
Initially, Libra was positioned as a “stable global digital currency”, which value will be tied to a reserve of various assets.
After the announcement of the coin launch, a flurry of criticism from the regulators fell upon the project. Despite this, the Libra Association does not abandon plans to launch a digital currency.