The digitalization of facebook in advanced technology may transform from next january with the launch of its stable coin. The Facebook-led Libra Association is reportedly targeting the launch of its first stable coin in January of next year. The Financial Times reported the news on Thursday, citing "three people involved in the initiative."
According to one of the main member, the first stablecoin would be dollar-backed, while other persons planned single-currency and multi-currency stablecoins to be launched later. The actual launch date of the dollar-pegged stablecoin depends on when Libra gets a payment services license from the Swiss Financial Market Supervisory Authority, FINMA. Once the license is issued the further process and stages of this will move on.
Libra has appealed for license this april. While in usa to launch, it need license . The wallet is ready but won't be launched globally.
At initial stage, the stable coin is supposed to be launched in USA and some latin countries. Once it gets stable the coin will be proceed to further stages and launch globally.
Once it is implemented many updated features can be seen on facebook. People may perform shopping and market activities through facebook. It will compromises many features in future. Hope it will bring positivity in technology.
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