Facebook open to dollar-pegged cryptocurrencies for Libra

Cornelia Mascio
Ottobre 21, 2019

The head of Facebook Inc.'s Libra project said that it could use cryptocurrencies based on national currencies like the dollar, rather than the synthetic one it initially proposed, Reuters reported. David Marcus, Facebook's blockchain boss, on Sunday reportedly said there could be alternative approaches to the digital coin, including using multiple cryptocurrencies based on national currencies such as the U.S. dollar.

"We could do [Libra] differently". "Instead of having a synthetic unit...we could have a series of stablecoins: a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc".

"We could definitely approach this with having a multitude of stablecoins that represent national currencies in a tokenized digital form", he said.

Marcus clarified he was not suggesting currency-pegged stablecoins were Facebook's new preferred option. He said the project is still aiming for a June 2020 launch. He stated, "What we care about is the mission and there are a number of ways to go about this". "So it's not entirely up to us", he said.

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