12 Facts About Diem Association

In October 2019 multiple companies left Libra Diem Association: PayPal left on 4 October, eBay, Mastercard, Stripe, Visa and Mercado Pago followed on 11 October, and Booking Holdings on 14 October.

In January 2022, it was reported that the Diem Association was winding down, with Diem's assets to the California based Silvergate Capital for a reported $200 million.

Libra service partners, within the Libra Diem Association, will create new Libra currency units based on demand.

The intent is to help prevent everyone but members of the Libra Diem Association from trying to extract and analyze data from the distributed ledger.

In May 2021, Diem Association announced that it had withdrawn its application to the Swiss Financial Market Supervisory Authority and said that it would instead seek approval with the US treasury to register as a money services business.

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Facebook established the Libra Association to oversee the currency, founded in Geneva, Switzerland.

Diem Association said that Libra could not be allowed to become a sovereign currency, and would require strong consumer protections.

Diem Association called on the central bank governors of the Group of Seven to prepare a report on Facebook's plans.

Diem Association spoke about the potential for abuse of marketing dominance and systemic financial risks as reasons for not allowing stablecoins to operate yet within the EU.

Diem Association announced that it would relocate its operating headquarters from Geneva to Washington with an intend to establish its payment system from the United States.

In Europe, Libra Diem Association has filed an application with the European Union Intellectual Property Office for the registration of the word “LIBRA” as a verbal trademark.

Only members of Diem Association will be able to process transactions via the permissioned blockchain.