News Facebook-backed digital currency project Diem could launch its first stablecoin in 2021 as a small-scale pilot, according to an anonymous source. Cited in a CNBC report published on Tuesday, the source claimed that the Switzerland-based nonprofit The Diem Association is still intending to launch its pilot for a United States dollar-backed stablecoin later this year. Diem’s stablecoin is a significantly scaled-back and rebranded version of Facebook’s initial vision for a global digital currency, native to its platform, that would be tied to a basket of multiple fiat currencies. Aside from shedding the name Libra, commentators have pointed to the thoroughgoing changes to Diem’s evolving project in response to a striking pushback from global regulators and nation-states.