The Facebook-backed Diem cryptocurrency project could launch its first stablecoin in 2021 as a micropilot, according to an anonymous source.
In a CNBC report released on April 20, the source claimed that the Swiss-based non-profit organization Diem still intends to launch its stable, dollar-backed pilot project later this year.
Back in November 2020, the association had already announced plans to launch a limited stable dollar currency in January this year, but after a few months, the coin had not yet seen the light of day.
Dima Stable Coin is a miniaturized and heavily modified version of Facebook’s original vision for a global digital currency integrated into the platform that will be linked to a basket of multiple fiat currencies. In addition to releasing the Libra name, commentators have pointed to drastic changes in the new Deem project in response to strong dissatisfaction from global regulators and nation states.
Ran Goldie, CEO of First Digital Assets Group, told CNBC that Diem’s core technology “has changed dramatically in the last year and a half from a gullible blockchain to a very complex blockchain, which, as you can see, tries to answer some of the questions as regulators. has been. “First Digital Assets Group is currently building an infrastructure for salespeople to facilitate the use of Diem as a payment method.
In the meantime, DEEM continues to await approval from the authorities and issue a payment authorization from the Swiss Financial Markets Authority. Commentators who spoke to CNBC were optimistic, and Chainalysis CEO Michael Gronager said:
“I think [Diem] will pass through the gate this year. Otherwise it will be a missed opportunity.”