Facebook’s New Stablecoin Aims a ‘Big Comedown’ from Grand Libra Plans

Once heralded as the future of global finance, it appears that the Facebook-led Diem project (formerly Libra) is now set to launch in the United States as a USD-pegged stablecoin.

In a press release, Facebook and its Diem partners announced that it would be teaming up with the American crypto player and chartered bank Silvergate and make what is called a “strategic shift”.

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