Libra Board Member: No 'Strategy Set in Stone' for 2020 Launch

  • Libra Association board member Patrick Ellis told Reuters the digital currency's launch strategy for 2020 is unclear.
  • The scope of Libra's launch will depend upon negotiations with regulators. 

A board member for the Libra Association revealed that the project has no clear strategy for launching in 2020.  According to a report by Reuters on Dec. 19, Libra still intends to launch next year despite having an unclear strategy for getting on the market. 

Patrick Ellis, one of five board members for the Geneva-based Libra Association overseeing the digital currency project, told Reuters that the project was on track to meet its original launch target of 2020. However, Ellis explained that the extent of the project’s launch will depend upon negotiations with regulators. 

He said, 

At this stage, there is no strategy set in stone for the markets or the product, or how it will actually get rolled out.

Leaked tapes from earlier in the year of Mark Zuckerberg speaking at an internal Facebook meeting revealed that the Libra project would likely be launched in stages, with certain countries gaining access to features of the digital currency before others. 

Thus far, Libra has struggled to gain traction from global regulators, with the majority condemning the digital currency as a disruptor of the financial sector. 

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