about libra currency

Since the shutdown of Libra (Diem), Meta has shifted its focus toward other blockchain-related initiatives, though not directly launching another cryptocurrency. Here are some key areas where Meta and other companies are exploring digital currencies and blockchain technology:

1. Meta’s Current Blockchain & Digital Currency Efforts

Metaverse & Digital Payments – Meta is investing in its Metaverse vision, where digital currencies and assets play a role in virtual economies.

Meta Pay (formerly Facebook Pay) – A payment system allowing transactions across Facebook, Instagram, and WhatsApp, but not using cryptocurrency.

NFT Integration – Meta briefly explored integrating NFTs (Non-Fungible Tokens) into Instagram and Facebook but later dropped the initiative in 2023.


2. Alternative Stablecoin & Digital Currency Projects

Several companies and governments are working on alternatives to what Libra/Diem aimed to achieve:

CBDCs (Central Bank Digital Currencies)

Many governments, including China (Digital Yuan), the EU (Digital Euro), and India (Digital Rupee), are working on state-backed digital currencies.

Unlike Libra, these are directly controlled by central banks.


USDT & USDC (Stablecoins)

Tether (USDT) and USD Coin (USDC) are private stablecoins backed by the US dollar.

Widely used in crypto transactions, unlike Libra, which faced heavy scrutiny.


Bitcoin & Decentralized Cryptos

Unlike Libra, Bitcoin operates without central control, making it resilient to regulatory shutdowns.

Ethereum’s smart contracts also power decentralized finance (DeFi) applications.



3. Potential Future Moves by Meta

Partnership with Existing Stablecoins – Instead of launching its own cryptocurrency, Meta may integrate USDT, USDC, or similar stablecoins into its payment system.

Blockchain-Based Identity Solutions – Meta might leverage blockchain for digital identity verification within its Metaverse projects.

Revival in a Different Form – If regulatory landscapes change, Meta could reintroduce a blockchain-based payment system under different branding.


Libra was a cryptocurrency project announced by Facebook (now Meta) in June 2019. It was initially designed as a stablecoin backed by a basket of real-world assets (such as government bonds and fiat currencies) to ensure stability. The project was managed by the Libra Association, a Switzerland-based organization comprising various companies and financial institutions.

Key Features of Libra

  1. Stablecoin Concept – Unlike volatile cryptocurrencies like Bitcoin, Libra was intended to be pegged to a mix of global currencies.
  2. Blockchain-Based – It was built on a permissioned blockchain (initially not fully decentralized).
  3. Backed by Reserves – Libra's value was supposed to be backed by a reserve of real assets.
  4. Financial Inclusion – Aimed at providing banking services to the unbanked population worldwide.

Challenges and Controversies

  • Regulatory Concerns – Governments and central banks feared it could disrupt financial systems.
  • Privacy Issues – Given Facebook’s past data privacy scandals, trust was low.
  • Governance Issues – Many founding members (like PayPal, Visa, and Mastercard) left due to regulatory scrutiny.

Rebranding to Diem

In December 2020, Libra was rebranded as "Diem", shifting focus towards compliance with financial regulations. However, despite efforts, the project faced continued regulatory resistance.

Shutdown & Sale

By January 2022, the Diem Association announced the sale of its assets to Silvergate Capital, marking the end of the project.



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