Facebook is preparing to launch its cryptocurrency Libra early next January


A press report stated that Facebook intends to launch its cryptocurrency, “Libra”, as early as next January.

The “Financial Times” newspaper quoted unnamed sources today, Friday, that the “Libra” association, which will issue and supervise the currency, intends to launch a unified digital currency backed by the dollar.

The report added that within the framework of the new plan of the association, other currencies supported by traditional currencies will be introduced at a later time.

Libra, revealed by Facebook last year, is slated to be reintroduced in a diluted form after regulators and central banks around the world raised concerns that it could upset financial stability and undermine the prevailing authority over money.

The 27-member Libra Association is seeking the green light from the Swiss Market Watch to issue a series of stable coins backed by single conventional currencies, as well as a token based on the stable coins linked to the currency.

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