Facebook's native stablecoin Diem is ready to come to market, David Marcus, a board member of the Diem Association, wrote in a blog post. He notes the stablecoin is already regulated, and Facebook Financial, an initiative to run all payments projects, is confident in its operational ability to exceed the "high standards of compliance."
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Marcus also argued there is no need to delay the launch of new digital payment systems to achieve cheaper and interoperable way of transferring money.
"We will continue to persevere and demonstrate we can be a trusted player in this industry — and one that’s bringing positive change by being in it," he added
The statement follows reports saying that Novi Financial, a division created by Facebook that was supposed to develop a digital wallet for the cryptocurrency Diem, started negotiating with several third-party stablecoin issuers. Circle and Paxos are among the potential partners.
The former issues one of the largest stablecoins on the market, USD Coin (USDC), while the latter issues several tokens, including Paxos Standard (PAX), Binance USD (BUSD) and Paxos Gold (PAXG).
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