![\"Facebook's](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/11\/facebook-libra-launch-768x432.png\")
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Facebook\u2019s libra cryptocurrency is reportedly preparing to launch with a single cryptocurrency, a scaled-down version of its original plan. The launch date for Facebook\u2019s libra could be as early as January.<\/strong><\/p>\n The cryptocurrency libra, proposed by social media giant Facebook, is reportedly preparing to launch as early as January next year. However, only a limited version of the libra cryptocurrency will launch at that time.<\/p>\n According to the revised libra whitepaper<\/a>, the Libra Association intended to initially launch with some of the currencies in the proposed libra basket, such as \u201clibrausd or \u224bUSD, libraeur or \u224bEUR, libragbp or \u224bGBP, librasgd or \u224bSGD),\u201d the association explained. However, the Financial Times reported Friday:<\/p>\n The association would now initially just launch a single coin backed one-for-one by the dollar \u2026 The other currencies and the composite would be rolled out at a later point.<\/p>\n<\/blockquote>\n The exact launch date for the libra crypto would depend on when the project receives approval to operate as a payments service from the Swiss Financial Market Supervisory Authority (FINMA). Three people familiar with the matter told the publication that it could come as early as January. Libra\u2019s application was initiated in May.<\/p>\n<\/p>\n Facebook unveiled the libra project in June last year and later scaled down<\/a> its plans after being scrutinized<\/a> by regulators worldwide. The Libra Association has 27 members currently, including Facebook\u2019s David Marcus, who is Head of Facebook\u2019s subsidiary Novi Financial, formerly Calibra. According to Facebook, \u201cThe first product Novi Financial will introduce is the Novi digital wallet designed for Libra, a new payment system which is built on innovative blockchain technology.\u201d<\/p>\n What do you think about the libra crypto launch? Let us know in the comments section below.<\/strong><\/em><\/p>\n The post Facebook\u2019s Libra Crypto Gets Ready to Launch in January as a Single Coin<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nLaunch Date for Facebook\u2019s Libra<\/h2>\n
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