Frederik Gregaard said Facebook’s Libra, later known as Diem, was two weeks from launch and was designed as a basket-style digital currency for billions of users.
Cardano Foundation Chief Executive Frederik Gregaard said he previously worked on Facebook’s Libra stablecoin project, later renamed Diem. According to his statement, the project was about two weeks from launching and was intended to reach billions of users. He described Libra as a basket-style currency, meaning a digital asset designed to draw value from a group of underlying currencies or assets rather than a single fiat currency. The disclosure highlights Gregaard’s background in large-scale digital currency initiatives and revisits one of the most prominent corporate stablecoin efforts in the crypto sector.