Meta has officially scrapped its cryptocurrency plans, after multiple attempts to launch the stablecoin Diem failed. 1/7 From the statement by the CEO Stuart Levey on the sale of the Diem group's assets to Silvergate — “From the outset, the Diem project has been focused on leveraging the benefits of blockchain technology to design a […]
Diem, the cryptocurrency project headed by Facebook originally known as Libra, recently announced its plans to launch a stablecoin with its focus scaled back to the United States. The company stated earlier this year that it would be relocating its primary operations from Switzerland back to the United States, and would withdraw its payment system […]
The Diem Association, the entity handling Facebook’s stablecoin project, has announced a partnership with its subsidiary Diem Networks U.S. and Silvergate Capital Corporation. As a result of the partnership, Silvergate Bank will become the exclusive issuer of the Diem USD stablecoin, and the Diem Association will also move to the U.S. from Switzerland. The Diem […]
Diem partnered with Silvergate, the California-state charted bank, in order to launch a new stablecoin in the US as we can see in our latest Diem news today. The facebook-backed crypto project, the Diem Association, partnered with crypto-friendly bank Silvergate to launch a new stablecoin project pegged to the United States dollar. Diem partnered with […]
Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate.
There’s always a light at the end of the tunnel and so it has been for the Facebook Diem project, formerly Libra! On Wednesday, May 12, Facebook’s digital currency group Diem Association announced the launch of its USD-pegged stablecoin dubbed Diem USD. After going back and forth, facing major regulatory walls, making multiple tweaks. Facebook
After a number of heavyweight members jumped Libra’s embattled ship last October, following a series of regulatory blows for the digital currency project...