Facebook on track to launch Libra in January

Facebook's blockchain-powered cryptocurrency, Libra, is finally expected to launch in January 2021.

Based on information published by the Financial Times on November 27, Libra is ready to go.

The currency spent around a year undergoing scrutiny from various financial regulators and auditors and may now finally be moving closer to a launch date.

The Financial Times cited three people involved with the project who said that the Libra Association will expand its offer with a number of FIAT assets to buoy up Libra's value.

While the publication speculated about a January launch, there has been no specific date set just yet.

Presently, the Libra Association is awaiting regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA), which may expedite or delay the time schedule of release a little.

FINMA has made no official comment as to the process of reviewing Libra just yet.

When Libra was first announced back in June 2019, it prompted a lot of scrutiny, which immediately saw some of its main backers, to name PayPal and MasterCard leave the initiative.

Since that time, though, PayPal has introduced its own official support for existing cryptocurrencies.

Libra has also been gaining momentum. Hopes among the crypto community are that it would serve as another stable investment vessel and perhaps facilitate purchases.

We may even see Libra featured on crypto projects such as Bitcasino.io, FortuneJack and 1xBit, which are all dedicated to crypto gaming.

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Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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