Libra Plus? A New Global Digital Currency Strategy for Facebook

India’s Supreme Court overturns a crypto banking ban while Facebook prepares fiat-pegged digital currencies alongside Libra.

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.

Yesterday, The Information reported Facebook’s Calibra wallet would be abandoning the backed-by-a-basket-of-currencies Libra for a set of fiat-backed digital currencies for different regions. The company quickly amended that while it would be launching those fiat-based digital currencies, it isn't abandoning Libra. In this episode, @NLW argues these fiat digital currencies could be more readily adopted initially than Libra among Facebook’s existing user base.

Also on this episode, huge news out of India as its Supreme Court reverses a 2018 decision by the Reserve Bank of India to ban crypto banking. The move could breath life into an industry that has been largely shuttered in India since the initial ban.

Finally, a news roundup including a lawsuit against Twitter around de-platforming and a new router from HTC that can also run a bitcoin full node.

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.