San Francisco: Facebook planning to offer digital versions of government-backed currencies, including the US dollar and the Euro along with Libra – digital currency proposed by Facebook
According to a report on Tuesday, Facebook was delayed the roll out of its digital currency by several months, which was stated launching this summer is postponed to October.The crypto wallet will also support other major currencies apart from Libra.
Facebook spokesman told The Verge "Reporting that Facebook does not intend to offer the Libra currency in its Calibra wallet is entirely incorrect. Facebook remains fully committed to the project,"
Several US senators opposed Facebook's digital coin, arguing it has been irresponsible with user data privacy and calling Libra "delusional" and "dangerous". But Mark Zuckerberg testified before the Congress last October, acknowledging the struggles left to overcome.
Over 1,500 companies showed their interest in joining the Libra project since it was announced on June 18, 2019. Facebook and 20 partner organisations formally joined the digital currency project during a meeting in Geneva in October.
However, the project courted controversies, Vodafone and others including PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe and Booking Holdings which were signed onto the Libra Association charter withdrew the project.
