The Libra Association is weighing a shift to a U.S. dollar-backed stablecoin

Quick Take

  • The Libra Association is considering whether to abandon the existing currency-and-asset basket model in favor of a dollar-centric one for its proposed Libra stablecoin, sources say
  • The move could mollify the concerns of regulators and lawmakers skeptical of the Switzerland-based initiative
  • It might not be that big of a deal for the other U.S. dollar-backed stablecoins.
The Libra Association is considering a significant change to how its proposed stablecoin would be backed, The Block has learned.

Subscribe to The Block News+ to
Unlock this Feature


If you want to know more about what you get with a Membership, or you need help convincing your manager, we got you covered. You can find the details and learn more about the benefits by clicking the link below.

Trending Stories

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC