THELOGICALINDIAN - The rebrand signals the projects growing ability and ability from Facebook
Facebook’s Libra cryptocurrency activity has been rebranded to “Diem” in a new cardinal move. The Diem Association announced the name change on its website on Dec. 1, 2020.
Diem Is More Mature
Since its inception, the activity has been heavily criticized by regulators because of Facebook’s absolute involvement.
Lawmakers have bidding concerns about the abusage of the arrangement for actionable activities and agitation funding.
Now, the activity is attempting to ambit itself from its accomplished authoritative troubles. In the announcement, Diem Association CEO Stuart A. Levey said the rebranding marks its ability and acquiescence with regulators demands. Levey added that the accumulation is “excited to acquaint Diem – a new name that signals the project’s growing ability and independence.”
Diem has additionally appointed several new associates to its team, which it hopes will put it in a bigger position to accede with regulations and assignment with regulators—making this added than aloof a name change.
Brand Still in Flux
Diem has gone through a cardinal of altered trademarks and brands in the past. Before the activity was clearly launched as Libra in mid-2024, it was accepted as “Globalcoin” and “Facebook Coin.” The accumulation additionally rebranded its Calibra wallet as “Novi” this May.
Diem’s new name will charge to stick in adjustment for the activity to accomplish in the absolute world: today’s account comes aloof canicule afterwards the accumulation appear plans to launch a USD-based abiding bread in aboriginal 2021.
