Diem Association

ForkLog 5 01.02.2022

Silvergate Capital acquires Meta’s Diem stablecoin project.

Diem Association announced the sale of Silvergate Capital Corporation's intellectual property and other assets related to the operation of Meta's Diem payments network.

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ForkLog 25 27.01.2022

Media: Silvergate Capital to acquire Meta’s Diem project for $200 million

Silvergate Capital agreed to acquire for $200 million the assets of the Diem project (formerly Libra).

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ForkLog 14 26.01.2022

Bloomberg reports potential collapse of Meta’s Diem project

The Meta-backed stablecoin project Diem (formerly Libra) is unraveling under regulator pressure, Bloomberg reports.

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ForkLog 12 17.09.2021

US Treasury to require stablecoin issuers to ensure their tokens can be freely converted into fiat

Holders of stablecoins should have the ability to freely convert their tokens into the assets backing them. This requirement appears in recommendations to stablecoin issuers being developed by the U.S. Treasury, Bloomberg reports, citing sources.

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ForkLog 6 19.08.2021

David Marcus says Novi digital wallet ready for launch

David Marcus, head of Facebook's payments division, criticised the existing US financial infrastructure and said the Novi digital wallet is ready to launch.

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ForkLog 11 17.08.2021

Facebook to drop Diem in favour of third-party stablecoins

Novi Financial, the company behind the Diem project (formerly Calibra), is considering the possibility of collaborating with third-party stablecoin issuers.

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ForkLog 33 05.07.2021

Fitch analysts flag risks in the growth of stablecoin market capitalization

The growth in the issuance of not fully backed 'safe-asset' stablecoins could lead to breaches of financial stability and, as a result, tighter regulation. Such conclusions are contained in Fitch Ratings' note.

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ForkLog 6 16.06.2021

BoE chief rejects parallels between bitcoin and money

Bitcoin has no intrinsic value, but stablecoins may occupy a niche in the financial system. This was stated by Bank of England Governor Andrew Bailey.

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ForkLog 15 02.06.2021

ECB Flags Risks for Central Banks Without Their Own CBDCs

There is a risk of losing monetary sovereignty if large tech firms launch their own digital currencies and regulators lack versions of them. This conclusion is contained in the ECB's report on the international role of the euro.

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uskoryayushhei-sya-fragmentatsii-mirovogo-interneta

ForkLog 17 28.05.2021

Study: Corporate digital currencies could be a viable alternative for large corporations

Under certain conditions, corporations' use of their own digital currency instead of fiat may be a viable solution. This finding comes from a Richmond Fed article. According to the authors, developing and launching the corresponding platform would require significant costs, including cybersecurity measures. In a low and stable inflation environment, corporations are better off using existing payment systems. The situation changes when these costs can be minimized, there is a broad customer base, and inflation rises, forcing consumers to shed fiat. Analysts estimate that for Amazon, issuing and using only its own digital currency would become economically viable if interest rates rise above 11% per year. The figure could be lower if the retailer increases its market share, presently estimated at 6%. Such high figures include substantial costs associated with regulatory compliance. Corporations' interest in issuing their own digital currencies lies in earning seigniorage, a feature of central banks. Among other reasons are increased customer loyalty, data collection, and reduced settlement risks.

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ForkLog 14 13.05.2021

Diem withdraws Swiss license application

The Diem project, behind the development of the digital currency, has withdrawn its application for a Swiss payment-system license. FINMA said.

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ForkLog 9 21.04.2021

Media: Diem to launch pilot stablecoin by year-end

The Facebook-backed Diem project (formerly Libra) plans to launch in 2021 a pilot for a digital currency pegged to the US dollar, CNBC reports citing its own source.

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#Diem Association