Facebook's 'Bitcoin' is coming in January!

Tech News

Posted on December 10, 2020

The name of Facebook's cryptocurrency Libra is now DM. The renamed cryptocurrency will be launched in January. The project is currently awaiting approval from the Switzerland-based Financial Market Supervisory Authority (FISMA). The value of the DM will be calculated in US dollars. A year and a half ago, the Libra Association was formed with 26 companies to take care of Libra. Later, big companies like Visa, MasterCard, Strip, Mercado Pego, PayPal and eBay withdrew from the project. The Libra Association is now called the DM Association. Stuart Liv, CEO of the DM Association, said the name was changed to be independent of Facebook and to suppress all previous controversies. Six months ago, Facebook's cryptocurrency wallet caliber was renamed Novi. Millions of Facebook users will be able to make online transactions with the digital currency DM. The DM Association will work to ensure that the price of cryptocurrency does not fluctuate abnormally.