Originally announced in 2019 by Facebook, Libra was a permissioned blockchain digital currency project. Its mission was to enable a simple global currency and financial infrastructure that empowers billions of people. The project was to be governed by the Libra Association, a membership organization of companies from various industries. Due to intense global regulatory scrutiny and concerns over its potential impact on monetary sovereignty and financial stability, the project underwent significant changes. In December 2020, it was rebranded to "Diem" to signal its organizational independence. Despite the rebranding, the project continued to face regulatory hurdles and was ultimately shut down. In January 2022, the Diem Association announced it was selling its intellectual property and assets to Silvergate Capital, officially ending the project.

Founded in

Canada