The Facebook-backed Diem project (formerly Libra) could launch a digital currency stablecoin pilot in 2021, according to reports.

  • The pilot will be launched with a single stablecoin pegged to the U.S dollar, CNBC reported Tuesday, citing a person familiar with the matter.
  • It will be based largely on payments between individual consumers, potentially with the option for users to buy goods and services.
  • The Diem project is currently in talks with Swiss regulators to secure a payment license.
  • Originally named Libra when announced by Facebook in 2019, the project has experienced intense scrutiny from lawmakers and regulators and witnessed the departure of a string of partners.
  • This culminated in the Libra Association scaling back its ambitions in April 2020, pivoting to the development of a number of stablecoins pegged to different currencies, as opposed to the original plan of a global digital currency backed by a basket of national currencies.

Read more about


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC