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Facebook Adds Singapore Dollar to Libra Crypto Basket: Report
Facebook reportedly included the Singapore dollar but not the Chinese yuan in an updated list of currencies meant to back the Libra stablecoin.
Yazan Nikhilesh De
Details are emerging on which fiat currencies might back the Libra stablecoin.
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that Facebook wrote a letter to U.S. Senators about Libra, addressing concerns over potential Chinese influence on the cryptocurrency. Sen. Mark Warner (D-Va.) previously wrote to Facebook asking the company to exclude the Chinese yuan from the basket of assets backing the Libra stablecoin.
"Any decision whether to add a new currency to the Libra Reserve would be made based on all the facts and circumstances at the time, including any direct or indirect regulatory restrictions," Facebook reportedly wrote, adding that the decision would be made by the Libra Association, not Facebook itself.
According to Bloomberg, Facebook provided a list of possible currencies to include in the Libra Reserve but appeared to stop short of saying that the yuan would be excluded outright.
The U.S. dollar, euro, Japanese yen, British pound and the Singapore dollar were included in the letter.
David Marcus, Facebook's blockchain lead, previously told the U.S. House Financial Services Committee that 50 percent of the basket backing Libra would be U.S. dollars, with the other half in stable sovereign currencies and low-risk assets.
Controversial launch
Facebook first unveiled its vision for Libra this summer, announcing it would create two tokens: the fiat-backed stablecoin and a security token that members of Libra's governing council could use to oversee the network.
The project faced immediate pushback, with regulators in the U.S. and a number of other jurisdictions immediately calling for the company to halt development until lawmakers' questions could be answered.
Facebook's Marcus testified before the House Financial Services and Senate Banking committees in July, attempting to reassure lawmakers that the cryptocurrency wouldn't destabilize the global monetary system.
The company has pledged to continue developing the project, though it did say it would not launch until any regulatory concerns have been resolved.
Facebook image via Shutterstock
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Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin jumps above $87,000, yen slides as Bank of Japan hikes interest rates
The Bank of Japan raised its short-term policy rate by 25 basis points to 0.75%, the highest in nearly 30 years.
Bilinmesi gerekenler:
- The Bank of Japan raised its short-term policy rate by 25 basis points to 0.75%, the highest in nearly 30 years.
- Despite the rate hike, the Japanese yen fell against the U.S. dollar, while bitcoin saw a slight increase in value.
- Market reactions were muted as the rate hike was anticipated, with speculators already holding long positions in the yen.
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