Company Information

Get to know Diem

Originally announced as "Libra" in June 2019, the project was a high-profile initiative by Facebook (now Meta) to create a permissioned blockchain and a global digital currency. Governed by the independent Diem Association (formerly Libra Association) in Geneva, Switzerland, the project aimed to provide a stable digital currency backed by a reserve of assets. Due to intense and sustained regulatory scrutiny from governments and central banks worldwide over concerns about financial stability and monetary sovereignty, the project was significantly scaled back and rebranded to "Diem" in December 2020. Despite these changes, it failed to secure the necessary regulatory approvals to launch. In January 2022, the Diem Association officially announced it was winding down and selling its intellectual property and other assets to Silvergate Capital Corporation, marking the end of the project.

Industry

Crypto CryptocurrencyPRIMARY
Technology Software Development

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Diem

Switzerland

Founded in

18 Jun 2019 (7 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Markets.com

(326 reviews)

United States

2008

(18 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.