Facebook will provide Libra stablecoin with five national currencies

Facebook will provide Libra stablecoin with five national currencies

Facebook introduced the official list of currencies that will be in the basket that provides Libra. It also became known about the share of each currency in the basket.

The shares of national currencies in the basket providing Libra are presented as follows:

  1. 50% US dollar;
  2. 18% – euro;
  3. 14% – yen;
  4. 11% – pound;
  5. 7% – Singapore dollar.

The head of the blockchain division of Facebook, David Marcus (David Marcus) on Friday confirmed that the company is still planning to issue digital currency next year, despite the negative attitude of the authorities of various countries.

“By this time, we plan to answer all available questions and create an acceptable regulatory environment,” he said.

Marcus added that Libra is highly likely not to become a means of payment in countries such as Switzerland, Germany and France, but it will be used as a tool for making international transfers or very small settlements.

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We will remind, earlier the Minister of Finance of France Bruno le Mer
against the spread of Libra in Europe, and then German authorities supported
this initiative.

Markus noted that at the first stage of development, attracting users to stablecoin will be an even bigger problem than compliance with the law. According to him, Libra will not have a destabilizing effect on the global financial system and will not interfere with the monetary policy pursued by central banks, because it will not take part in the release of a new money supply.

In the end, he said that the Calibra wallet would be available wherever there would be legislative restrictions.


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