ailancy

Retour

ailancy

Facebook’s Libra project: an accelerator for the advent of stablecoins?

Ailancy

Innovation & Technology

Publication

Regulatory And Compliance

Trends

Download

Facebook made a resounding announcement in June 2019 when the company announced it would launch its own crypto-currency: Libra. This new currency, administered by a consortium of companies forming the “Libra Association”, will be able to be exchanged on a wallet-like application named Callibra, on existing applications such as Facebook, WhatsApp and Messenger as well as at partner merchants (Uber, Spotify…). This new currency, calculated on a basket of existing currencies, will give access to financial services to billions of users and influence monetary systems, without however being subject to clearly defined regulation.

Faced with pressure from regulators and Central Banks who fear for the monetary sovereignty of their states, the Libra project published a second version of its white paper in April 2020. In one year, the project has evolved and now offers stablecoins associated with a single currency (libraUSD, libraEUR, libraGBP, libraSGD). This evolution completes this ambitious project and could accelerate the launch of libra.

We propose to take a look back at the first year of the project in order to understand the issues at stake and its impact on the financial world. Our Ailancy decipherment brings you the codes of this new stablecoin market coveted by Central Banks and private players.

Authors

Clémentine Ravion

Senior Consultant

Ali Djellalil

Junior Consultant

Related publications