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Facebook's Long-Stalled Digital Currency Could be Tested This Year: Report

Facebook s Long-Stalled Digital Currency Could be Tested This Year: Report
Gizmodo
1 hr ago
Matt Novak
© Photo: Susan Walsh (AP)
Facebook CEO Mark Zuckerberg testifies before the House Financial Services Committee on Capitol Hill in Washington on Oct. 23, 2019.
Facebook hopes to launch a trial of its long-stalled digital currency project by the end of this year, according to a new report from CNBC. The currency, first announced in 2019 as Libra and then renamed Diem after some bad publicity, will now be pegged to the U.S. dollar, provided the tech giant can actually get it off the ground this time.
Facebook first announced plans for the digital currency in June of 2019 and was hit with immediate backlash from governments and consumer groups around the world that worried what would happen if a huge tech monopoly like Facebook competed with the world’s largest currencies. Facebook has roughly 2.8 billion active users on a planet o ....

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