Facebook announced its digital currency Libra coin in June last year, but there were several hurdles in offering it to users.
However, now Facebook is ready to offer its currency in January 2021. The Financial Times reported, citing sources, that the company is likely to introduce a limited version of Libra.
Libra was to be introduced by Facebook in the form of several digital coins representing different currencies such as the US dollar, while a single coin would be considered a combination of all currencies.
But now a new report states that Facebook is offering a digital currency in US dollars and that other currencies will be part of the project at some point later.
Last year, the company said the cryptocurrency would be introduced to a number of companies by the first quarter of 2020.
On the occasion, Facebook said that there will be 28 partners with Facebook to introduce ‘Libra’, including PayPal, MasterCard, Visa, eBay, Ober, Coin Base and Mercy Corps among others. Will
But in October 2019, several companies involved in the project distanced themselves from it. On October 4, PayPal, the leading financial institution, first decided to leave the Libra Association, followed by MasterCard and Visa, eBay, Stripe and Mercado Pago.