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12/1/2020, 3:29 PM (Source: TeleTrader)
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Facebook's Libra changes name to Diem

The Libra Association announced on Tuesday it is changing its name to Diem as it is getting ready to launch its dollar-pegged stablecoin next year.

Facebook-created group, made of 27 other companies also named Stuart Levey (pictured) as its CEO, Dahlia Malkhi as its chief technology officer, Kiran Raj as the executive president for growth and Christy Clark as chief of staff.

Levey told Coindesk he thinks "regulatory stakeholders really are welcoming a more autonomous association. They want to see an association strong enough to make its own decisions and have a leadership team that is capable of directing the project. It is in part for that reason we decided to change the name, to move from Libra to Diem, and that will be effective Tuesday."

Breaking the News / TF