Diem says it will ‘fade out’ stablecoin if Fed issues CBDC
Chief economist of Facebook-backed firm says public sector has “comparative advantage”
The chief economist of the Diem Association, the Facebook-backed crypto asset firm, said it would “fade out” its stablecoin if the Federal Reserve issued a central bank digital currency (CBDC).
Diem, formerly known as the Libra Association, was originally founded by Facebook in 2019.
Speaking at an event on May 26, Christian Catalini reportedly said the public sector has a “large comparative advantage” in developing anything which links to “stability, money, value preservation and macro
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