Facebook’s stablecoin Libra will be provided with five national currencies, according to the German publication Der Spiegel .
In response to a request from the representative of the Left party, Fabio de Masi, the company provided detailed information on Libra reserves. The currency basket will consist of 50% of US dollars, 18% of the euro, 14% of the Japanese yen, 11% of British pounds and 7% of Singapore dollars.
The head of the blockchain division of Facebook, David Marcus, confirmed on Friday that despite active opposition to regulators, the company still expects to launch Libra in 2020.
“Until this time, we need to properly answer all available questions and create an acceptable regulatory environment ,” he said.
Marcus also noted that Libra is unlikely to become a means of payment in countries such as Switzerland, Germany and France, but will be used for international transfers or very small settlements. In his opinion, at the first stage, attracting users to stablecoin will be an even bigger problem than complying with all existing regulations.
The Facebook manager argues that Libra will not have a destabilizing effect on the global financial system and will not affect the currency policy pursued by central banks, as it will not be used to issue new money supply. The Calibra cryptocurrency wallet will be available wherever regulatory conditions prevent this, he added.
Publication date 09/22/2019
Share this material on social networks and leave your opinion in the comments below.
