Facebook Gives Its Libra Digital Currency an Overhaul

Facebook (NASDAQ: FB) is overhauling its Libra digital currency in an effort to assuaged skeptical regulators, announcing it will support multiple versions backed by fiat currencies including the U.S. dollar and euro.

Libra's governing body, the Libra Association, said Thursday it hopes to work with regulators, central banks, and financial institutions globally to expand the number of single-currency stablecoins available on the Libra network. The coins would be a digital extension of the currency of the country. The tech group still plans to launch a multi-currency coin that could be used for cross-border payments.

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Source Fool.com