Libra Board Member Says Project Will Launch in 2020

 

 

 

 

 

 

Libra Association board member Patrick Ellis told Reuters on Thursday that the organization still plans to launch its Libra digital currency payment system next year, despite having no firm plan for the currency’s rollout. However, he suggested that the organization’s discussions with regulators will determine the scope of that rollout.

Ellis is one of five Libra Association board members who will be tasked with governance of the Libra currency if and when it is issued. Initially, Facebook and its Libra partners had planned to launch the new digital currency and payment system by the end of June 2020. Since that initial announcement, some Libra officials have suggested that regulatory resistance could result in a launch delay.

Still, Ellis was adamant that Libra will be introduced at some point next year. For now, however, “there is no strategy set in stone for the markets or the product, or how it will actually get rolled out.” As Ellis notes, though, the process is still in its early stages:

“It’s just too early to put a solid strategy in place. We have still got so much to solve with the regulators in order to be able to then refine the strategy for launch.”

 

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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