In the run-up to a rumored 2021 debut, Facebook has announced that the body behind its cryptocurrency project is being renamed. The Libra Association, which was designed to build a legal framework and support the coin itself, has now been rebranded as the Diem Association. In a statement, the body said that the change represented a “new day for the project.”
The announcement adds weight to the rumor that the currency was looking to launch in some form as early as January. Any such launch will face hurdles, as at the time The Financial Times said that the project still lacks some key approvals, in up to 10 US states, including New York. Today, Diem reiterated that it would not launch until it had blessing from FINMA, the Swiss finance regulator, which is still pending.