Libra is a digital currency project led by social media giant Facebook.

After a long wait, it seems that the date for the availability of the digital currency “Libra” has finally become known and its time frame, as the digital currency “Libra” is expected to be ready for launch early next year, according to a report “FPosted this morning.

Three people involved in the project said that the launch is a limited edition and different from what the coin was when it was announced before.

This means that the “Libra” currency, which will be available at the beginning of 2021, will be a significantly reduced version of the aspirations of what was announced earlier.

Read:The Uniswap project launches its digital currency UNI … details here

Designed in 2018, Libra was initially intended to be an internationally accepted currency backed by various fiat currencies and $27 billion conglomerates.

But hopes were soon dashed by the regulators, as many legal measures were taken to stop the development of the “Libra” currency, and it was pointed out that the “Libra” currency represented an attack on monetary stability and a means of financing terrorism.

And Libra’s corporate partners, such as PayPal, MasterCard and Strip, exited the partnership shortly after the announcement.

But now, the project is back in the spotlight with a less ambitious version.

The limited edition will be backed on a one-to-one basis in US dollars, similar to how regulated stablecoins like Tether, Gemini and other stablecoins operate in the crypto market.

According to the aforementioned report, the additional foreign exchange peg will be introduced at a later date after extensive legal and regulatory compliance.

For information, the limited version of the “Libra” currency itself is awaiting approval to operate as a payment service from the Swiss Financial Market Supervisory Authority, as it is expected to receive the green light in early January.

The report added that some Libra members, such as the music service Spotify and the Uber app, may use the currency as a payment method for their platforms, but they are waiting first to see the general reaction.

Read:Tron burns 125 million TRXs, net production hits $10 million in negative…Details here

The news comes as PayPal, one of the original Libra members, launched its own cryptocurrency buying and selling service this month.

Read also:

Scammers Claim To Sell Libra ICO Tokens On Twitter

Facebook is facing obstacles and is reconsidering the launch of its cryptocurrency “Libra”