Facebook to Test Diem Later This Year: Report
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The Diem Association, an independent membership organization based in Switzerland, plans to launch a pilot test of Facebook's digital currency Diem later this year, CNBC has learned, citing a person familiar with the matter. The association reportedly plans to start a pilot with a single stablecoin pegged to the US dollar.

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The person also said the pilot will not be big as the association wants to focus largely on transactions between individual consumers. While there is no date for the launch, there may be an option for users to buy goods and purchases, CNBC's source added.

Facebook Faces Lawsuit Over Libra Association Rebranding

In December last year, the Libra Association announced it decided to make a rebranding with a new name "Diem." The rebranded association continues pursuing a mission of building a safe, secure and compliant payment system that empowers people and businesses around the world.

Stuart Levey, the Diem Association’s CEO, said the association will provide a simple platform for fintech innovation to thrive and enable consumers and businesses to conduct instantaneous, low-cost, highly secure transactions.

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