Libra, the highly-controversial digital currency initiative led by the largest social media platform today, Facebook, has seemingly got its release date finally. As per the report of Financial Times (FT), Facebook’s most-anticipated digital currency may come knocking on our doors as early as January of next year. The news by FT cited three people from within the project itself as its source.
That being said, the aforementioned three people working on the project clarified that the releasing Libra this coming January 2021 would be a limited version. It will have massively downgraded features – a far cry from the original benchmark set for Libra. However, the Libra Association clarifies that it will be adding more and more features and fiat currencies to the releasing version to optimize it eventually to stand side by side with the originally proposed Libra.
Despite having a month release window, the precise date for the launch is still unknown. FT states that it will heavily depend on when the Association finally receives the regulatory approval it asks from the Swiss Financial Market Supervisory Authority (FINMA) to operate as an official payments service.
The Financial Times noted that the coming limited version of Libra would launch as a USD stablecoin.