Facebook, which will peg Libra to a basket of currencies backed by reserves, has 2.7 billion users as well as the backing of global payment, technology, telecommunication, blockchain and venture capital firms. Photo: Reuters
Facebook, which will peg Libra to a basket of currencies backed by reserves, has 2.7 billion users as well as the backing of global payment, technology, telecommunication, blockchain and venture capital firms. Photo: Reuters

Facebook’s Libra poses a threat to China’s financial sovereignty, plans to use yuan overseas, analysts say

  • Libra was unveiled three months ago and is still pending global regulatory approvals, but could reach Facebook’s 2.7 billion users worldwide
  • China’s digital currency electronic payment (DCEP) is believed to be ready to launch by the People’s Bank of China, but some question if it is enough

Facebook, which will peg Libra to a basket of currencies backed by reserves, has 2.7 billion users as well as the backing of global payment, technology, telecommunication, blockchain and venture capital firms. Photo: Reuters
Facebook, which will peg Libra to a basket of currencies backed by reserves, has 2.7 billion users as well as the backing of global payment, technology, telecommunication, blockchain and venture capital firms. Photo: Reuters
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