Federal reserve was uneasy with Mark Zuckerberg’s stablecoin plans. Meta-backed Diem is trying to sell its assets as a way to return capital to its investor members – Bloomberg

27 ianuarie 2022

The controversial cryptocurrency project that Mark Zuckerberg once defended in front of Congress is unraveling after regulatory pressure.

The Diem Association, a cryptocurrency initiative once known as Libra backed by Meta Platforms Inc., is weighing a sale for its assets as a way to return capital to its investor members, according to Bloomberg.

Diem is in discussions with investment bankers about how best to sell its intellectual property and find a new home for the engineers who developed the technology, cashing out whatever value remains in its once-ambitions Diem coin venture.

___________

Originally planned as a global private cryptocurrency, the project was scaled back following political and regulatory pressure and a new idea floated, pegging a rebranded Diem token to the US dollar.

In May, Diem said an affiliate of the firm, Silvergate Bank, would be the one to issue the Diem USD stablecoin. However, the Federal Reserve threatened to ice Silvergate, effectively dealing a final blow to Meta’s ambitions.

The writing was already on the wall in December, when David Marcus quit as the boss of Meta’s fintech unit after leading a frustrating effort to launch the Novi digital wallet and its associated stablecoin.

The Diem Association is a member-based association dedicated to building a blockchain-based payment system that supports financial innovation, inclusion, and integrity. Members include, among others: Coinbase, Spotify, PayU, ckeckout.com, Uber. At some point, Visa and Mastercard were on the members’ list also.

Adauga comentariu

Noutăți
Cifra/Declaratia zilei

Mihai Draghici – CEO PayByFace

„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.” 

Afla aici rezultatele in adoptia platii prin recunoastere faciala.

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?