{"id":41123,"date":"2021-04-21T10:15:07","date_gmt":"2021-04-21T07:15:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41123"},"modified":"2025-08-30T17:22:37","modified_gmt":"2025-08-30T14:22:37","slug":"media-diem-to-launch-pilot-stablecoin-by-year-end","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-diem-to-launch-pilot-stablecoin-by-year-end\/","title":{"rendered":"Media: Diem to launch pilot stablecoin by year-end"},"content":{"rendered":"<p>The Facebook-backed Diem project (formerly Libra) aims to launch in 2021 a pilot of a digital currency pegged to the US dollar. The <a href=\"https:\/\/www.cnbc.com\/2021\/04\/20\/facebook-backed-diem-aims-to-launch-digital-currency-pilot-in-2021.html\" target=\"_blank\" rel=\"noreferrer noopener\">CNBC <\/a>reports, citing its own source.<\/p>\n<p>According to the channel, testing will be modest in scale, focusing mainly on transactions between individual consumers. Users may gain the ability to pay for purchases with the stablecoin.<\/p>\n<p>There is no confirmed launch date for the pilot, so timelines may change, the source said.<\/p>\n<p>The not-for-profit Diem Association behind the project is currently negotiating with the Swiss financial regulator to obtain a payments licence to advance toward issuing the digital currency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cA significant step in our dialogue with regulators has been a staged approach to the rollout. We intend to gradually roll out different features and use cases across various domains,\u201d said Christian Catalini, Chief Economist of the Diem Association.<\/p>\n<\/blockquote>\n<p>When Facebook first unveiled its digital currency Libra in 2019, it drew regulatory concerns worldwide. German and French authorities explicitly said they would block Libra\u2019s development in the EU.<\/p>\n<p>In April 2020, Libra Association presented an updated white paper in which it abandoned the original idea of launching a basket-backed stablecoin. The organisation laid out a plan to issue several \u201cstablecoins\u201d pegged to different fiat currencies.<\/p>\n<p>However, the project team later said that it had not abandoned the idea of a multi-currency stablecoin.<\/p>\n<p>In December, the project conducted <a href=\"https:\/\/forklog.com\/en\/news\/libra-association-renamed-to-diem-association\">rebranding<\/a>, changing the name Libra Association to Diem Association.<\/p>\n<p>Earlier, German finance minister Olaf Scholz <a href=\"https:\/\/forklog.com\/en\/news\/germanys-finance-minister-brands-libras-renaming-a-wolf-in-sheeps-clothing\">stated<\/a> that renaming Facebook&#8217;s digital currency is not enough to dispel regulators&#8217; concerns.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":41124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2049,807],"class_list":["post-41123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-diem-association","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41123"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41123\/revisions"}],"predecessor-version":[{"id":41125,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41123\/revisions\/41125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/41124"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}