Libra can create a system of several stablecoins provided by fiat

Facebook, the developer of the Libra coin , is ready to launch a payment system based on several stablecoins supported by different fiat currencies.

This was reported by Reuters, citing a statement by the head of the Libra project, David Marcus. In fact, Facebook seeks to create a global payment network, and several cryptocurrency projects will be able to use it, Markus emphasized during his speech at a banking seminar.

He said :

“We could do things differently. "We could have a series of stablecoins pegged to the dollar, euro, pound sterling, etc."

If regulators are ready to accept such a plan, then Facebook will easily integrate it into its crypto project. Initially, the developers were ready to provide their token with a basket of currencies in the composition of the American dollar, euro, Japanese yen, British pound and Singapore dollar.

But now they can change their plan if this allows accelerating the implementation of the appropriate base for launching a payment network, the head of Libra summed up.

It is also worth noting that recently, under the pressure of regulators, several financial companies, including Visa, PayPal and MasterCard, were forced to leave Facebook crypto project.

Publication date 10/21/2019
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