Tagged: diem

David Marcus, Diem / Libra Leader at Facebook Plans Exit: Report

David Marcus, the lead executive at Facebook / Meta (NASDAQ:FB) heading the charge for Facebook’s botched attempt to create a digital currency is exiting the firm to “pursue other projects,” according to a report in Bloomberg. Marcus joined Facebook from PayPal in 2014. According to… Read More

Reserve Bank of Australia Taking Cautious Crypto Approach

While the Reserve Bank of Australia (RBA) is conducting research into various applications of cryptocurrencies and distributed ledger technologies, they are under no pressure to quickly roll out solutions to address clear needs in the marketplace, a representative said earlier today. Speaking to the Australian… Read More

Does NOVI Matter? Facebook Rolls Out Pilot Program for Payments Feature, Digital Wallet

Formerly known as Libra and then Diem, Facebook’s (NASD:FB) scaled-back entrance into the digital currency sector has announced the firm’s Novi digital wallet pilot program is rolling out – starting with Guatemala and the United States. The pilot is designed to confirm operational readiness as… Read More

Diem Association’s Technical Steering Committee Appoints CTO Daniel Prinz

First DAG, which has created global virtual payment platform as a service, reveals that Diem Association’s Technical Steering Committee (TSC) has appointed its CTO, Daniel Prinz, as an official Maintainer of the Diem blockchain, which is a distributed, programmable database developed to act as the… Read More

Stablecoin Report: Greater Risks Posed by Stablecoins Using Only Fractional Reserves or Higher-Risk Asset Allocations

The dramatic growth of stablecoin issuance may eventually have implications for the overall functioning of short-term credit markets, according to Fitch Ratings. The statement by Fitch follows comments late last month by Boston Federal Reserve President Eric Rosengren stating that Tether is a looming risk for… Read More

Facebook’s QR Code Persistence Could Soon Pay Off

This time Facebook (NASDAQ:FB) believes its added QR code functionality finally hits the mark. After earlier attempts at testing the technology, Facebook has added QR code functionality on Messenger, a move analysts see as a direct charge at Venmo and Zelle. What is different this… Read More

Silvergate Capital Corporation to Issue Diem Stablecoin in the US

Silvergate Capital Corporation (NYSE: SI) will partner with Diem, formerly Libra, to issue a US dollar stablecoin in the US. Silvergate is a Federal Reserve member bank and a provider of financial infrastructure solutions and services for the growing digital currency industry. Shares in Silvergate… Read More

Diem, Formerly Libra, Withdraws Application in Switzerland to Focus on US Dollar Stablecoin

In a significant twist of events, Diem, formerly Libra, has withdrawn its payment systems application in Switzerland. Diem had submitted an application to Switzerland, a crypto-friendly jurisdiction, in anticipation of launching a global cryptocurrency. The  Swiss Financial Market Supervisory Authority (FINMA) said that Diem Networks… Read More

Digital Currency Diem, Formerly Libra, to Include Rigorous KYC

Christian Catalini, an MIT Professor and co-founder of Diem (formerly Libra), visited with CNBC yesterday providing a minor update on the much-anticipated cryptocurrency. Libra/Diem lurched into the crypto-sphere in 2019 with great expectations of becoming a non-sovereign digital currency utilized by the hundreds of millions… Read More

Facebook with 2.8B Users and its Diem Initiative May Compete with Online Payment Platforms, but Bitcoin with $1T Market Cap Can’t be Ignored: Report

Researchers at Deutsche Bank (XETRA: DBKGn.DB /NYSE: DB) have published an update, titled The Future of Payments in which they look into whether Bitcoin (BTC) may offer any value to the financial system. The bank’s research team points out that Bitcoin or BTC’s market capitalization… Read More

Circular Economy Fintech Diem Secures $5.5M via Seed Round led by Fasanara Capital

UK-based Diem, a startup that aims to combine traditional banking with a service that allows users to sell their unwanted items to the company, has secured $5.5 million in capital via a seed round that was led by Fasanara Capital. Diem provides a user account,… Read More

Fintech Mergers and Acquisitions May Increase in the UK following COVID, Linklaters Exec Predicts

The United Kingdom has maintained its status as a major global Fintech hub. But will the country be able to capture a significant share of the world’s financial technology business after Brexit and can it retain its dominant status despite the challenges created by the… Read More

Libra No More: Digital Currency Initiative Libra Association Changes Name to Diem

The Libra Association, the initiative launched by Facebook to create a global digital currency, has changed its name to Diem, according to a note from the group. Recently, there have been multiple reports that the Diem Association is gearing up to launch its digital currency…. Read More

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