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It’s not been without its problems but Facebook announced that Libra would be launching next year but there has been no exact date of release at the moment.

It has been condemned by central banks and governments but The Libra Association are standing firm and believe they are going to get the project to market by December 2020.

Just recently PayPal backed out of the project which has left many analysts and market commentators guessing on who will be next to quit.

Despite all of this  Crypto derivatives exchange CoinFLEX have released a physically-delivered Libra Futures product tied to the launch of Facebook’s Libra.

Earlier in September this year, Bertrand Perez, Managing Director of the Libra Association,  said that Libra would be launched between the end of the first half of the year and the end of 2020. The co-founder  David Marcus reaffirmed the 2020 launch.

Then Mark Zuckerberg the co-founder of Facebook threw a spanner in the works and said in his interview with Nikkei that the cryptocurrency would only be launched once all the regulators are happy. Which is probably never.  

CoinFLEX CEO Mr Lamb said:

“Facebook has the ability to rival the entire global banking system from day one, but, because of that fact, when that first day will be is far from certain. The political backlash has been brutal, and it’s anyone’s guess if Facebook will get this over the line.”

Interestingly they have called the offering IFO which stands for initial futures offering a play on the term IPO, which is when a company goes public. It will start trading on 24th October and traders will receive Libra tokens depending on their bets if the project (Libra) gets to market by December 2020. The price of these futures will begin at $0.30 which represents a 30% chance that Libra will launch by the end of 2020.  Mark Lamb did also state that the gains would be capped at USD 1.1 per Libra token to cater for any possible devaluation in the currencies backing the stablecoin.