Facebook's Libra cryptocurrency is readying to launch as early as January, the Financial Times reported on Friday.
Libra, a new cryptocurrency being created by Facebook
and others, could launch as soon as January but in a limited format, according to a report from The Financial Times, which cited sources familiar with the matter.
The Libra Association, which has 27 members including Facebook
, was planning to launch digital versions of several traditional currencies. But now it is reportedly only planning to launch a single coin backed by the dollar.
The scaling back of the project, which was started by a group of Facebook
executives, comes after global regulators warned an influx of new libra coins could threaten monetary stability. Facebook
did not immediately respond to CNBC’s request for comment.