Express
New Whitepaper of Facebook’s Libra Highlights Single-currency Stablecoins
Summary: Libra, Facebook-backed blockchain digital currency, recently released a new whitepaper, which introduces four updates on the Association’s original one published in June 2019.
Libra, Facebook-backed blockchain digital currency, recently released a new whitepaper, which introduces four updates on the Association’s original one published in June 2019. Among those innovations, the one that has attracted the most attention is the Association’s expansion from multi-currency Libra Coin (LBR) to single currency stablecoins.
Fiat currencies that will soon have its Libra counterparts include USD, EUR, GBP, and SGD. Corresponding Libra stablecoins can be directly pegged into those currencies for users in local areas. This initiative of Libra has caused global interest, as 2.5 billion users of Facebook may adopt Libra, according to Reuters. Libra’s token may challenge existing currencies, including digital payment systems, such as Tencent’s WeChat Pay and Alipay.
By Dawn Wu
(Image from alpari.org)
Tags: Facebook Libra,Libra,Libra Assoiation,Stablecoins
Link: New Whitepaper of Facebook’s Libra Highlights Single-currency Stablecoins [Copy]
