Meta company, of which Mark Zuckerberg is the CEO, started to work to step into the crypto money market in June 2019. The company, known as Facebook at the time, is a cryptocurrency created by a subsidiary called Calibra. Librahad announced. However, things did not go as expected for the cryptocurrency.
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Diem Payment Network sold to Silvergate Capital Corporation
The Meta company was the name given to Libra’s stable and predictable value token units at the time. stablecoin wanted it to be. Created in 2019, Libra was very much associated with the name Facebook. This situation had caught the radar of regulators and financial experts alike. After this situation, the name of the cryptocurrency in December 2020 diem was changed to .
CEO of Diem Stuart Levey, detailed the sale of the Diem cryptocurrency in a statement on Monday. With this statement, Diem Association has announced everything about the Diem Payment Network. Silvergate Capital Corporationabout to 200 million dollars Confirmed it was sold in a giant deal.
The CEO of the company, Levey, is very hopeful for the future of the cryptocurrency despite the turbulent period. Praising Diem, the CEO thinks that the infrastructure of the unit is solid and will be shown among the accepted cryptocurrencies in the future. Stuart Levey said:
One of our top priorities when designing the Diem Payment Network was creating controls to protect it from abuse by illegal actors. In undertaking this effort, we actively sought feedback from governments and regulators around the world, and the project has improved significantly as a result. A top regulator in the United States informed us that Diem is the best-designed stablecoin project the US Government has ever seen.
Meta’s cryptocurrency plans don’t end with Diem’s sale
The company’s name was changed to Meta last year, as Mark Zuckerberg wanted platforms under the Facebook name to make the transition to the metaverse universe. So much so that the company’s data warehouse has become an area where cryptocurrencies can develop. Just because Zuckerberg has approved the sale of the Diem cryptocurrency doesn’t mean he’s disconnected from the cryptocurrency world.
Meta is developing its relationship with the blockchain and cryptocurrency world, albeit not directly. The company started to work on NFT production, exhibition and sale on social media platforms. It is also currently experimenting with transferring money with Novi, a crypto wallet that can trade money via WhatsApp.