Facebook’s Crypto Project Reboots With Smaller Ambitions

(Bloomberg) -- The Diem Association, a group of Facebook Inc. and 25 other companies and nonprofit groups once known as Libra, is moving its main operations to the U.S. and partnering with a bank to issue a cryptocurrency backed by U.S. dollars.The new plan includes an agreement with Silvergate Capital Corp., a prominent player in the cryptocurrency industry, which will issue the coin and manage Diem’s reserve of U.S. dollars, the association said Wednesday in a statement.Diem said it’s still building out a global payments network, with the idea that it could serve its own stablecoin or even central bank digital currencies if world governments decide to issue them.“It’s critical for the U.S. to foster innovation in this space. The U.S. can’t really afford to fall behind here,” said Diem Chief Executive Officer Stuart Levey. Levey said Diem’s payments network will be able to lower the cost of sending money around the world, whether it’s through a Diem-issued coin or the central-bank digital cur

12 พ.ค. 2021 ... SHOP · MA · FB · COIN · SI · V · PYPL · UBER.

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