Facebook's
Libra Rebrands to ‘Diem’ Ahead of 2021 Launch
Facebook's Libra Project
which aimed to create its own stablecoin is rebranding in further efforts to
distance itself from the original Facebook-led vision rolled out last year.
The Libra efforts were slowed due to a negative response from regulators throughout
2020.
The group, composed of
27 member firms, announced Tuesday it was changing its name to Diem (the
Latin term for “day”) as it gears up for the potential 2021 launch of
a single, dollar-pegged stablecoin. The organization has also finalized its
leadership team, which includes Dahlia Malkhi as chief technology officer,
Christy Clark as chief of staff, Steve Bunnell as
chief legal officer and Kiran Raj as executive vice president for growth and
innovation and deputy general counsel.
