Is diem what the world needs? "It's a start," economist Darrell Duffie says.
Novi’s David Marcus said Facebook deserves “a fair shot” at payments.
Facebook unveiled the Libra project a little over two years ago today. The original vision may have died but its legacy will live on.
Central bank digital currencies will one day be more "smart," and not merely digital versions of cash, Yao Qian said.
Diem, the latest iteration of Facebook's ambitious Libra project, had to make multiple concessions to calm the regulators. Chief economist Christian Catalini explains the evolution.
The potential launch of private cryptocurrencies such as the Facebook-backed Diem is motivating central banks to develop CBDCs, the report noted.
Diem is moving its "primary operations" from Switzerland to the U.S.
The pilot would see a single stablecoin pegged to the U.S. dollar.
The Diem white paper suggests the company would be open to discussions with central banks about providing this service.
Disparte will help Circle's global expansion efforts, CEO Jeremy Allaire wrote in a blog post.
“We believe the case for intervention in the wider cryptocurrency markets is less immediately pressing,” Economic Secretary to the Treasury John Glen said Tuesday.
Central bank digital currencies would largely benefit countries if they work together to eliminate traditional banking frictions, a research note said.
The ECB believes it should have the final say ahead of any proposed stablecoin launches.
The rebranded Libra network aims to come out with an initial product around the end of this quarter, with help from Fireblocks and First Digital Assets.
A Bank of America report on a possible mass-adopted digital euro noted that such movement could spell difficulty for commercial banks that could see some of their deposits migrate to the European Central Bank.