The Libra project team is preparing a digital currency release in January 2021 in a “limited format”, sources familiar with the situation reported to the Financial Times.
Stablecoin will not get pegged in a basket of multiple fiat currencies as the original concept suggested. In April, the Libra Association dropped this option due to pressure from regulators in the US and other countries.
Subsequently, in an updated white paper, the Libra Association announced plans to develop several stablecoins, each of which will be pegged to different fiat currencies – the US dollar, the euro, the British pound, and the Singapore dollar.
FT sources said that Libra will launch a 1: 1 backed USD coin in January.
The corresponding permission was given by the Swiss Financial Market Supervisory Authority (FINMA). The issue of coins pegged to other currencies is not excluded in the future.
At the time of publication, representatives of the Libra Association did not comment on the news.