Libra cryptocurrency linked to Facebook changes name to Diem amid backlash

Dec. 1 (UPI) — The Libra cryptocurrency project Facebook launched in 2019 changed its name Tuesday to get a fresh start.

The association for the cryptocurrency project headquartered in Geneva, Switzerland, announced in a press release it was changing its name from Libra Association to Diem Association. The group will now be known as Diem Network, and the digital currency will be called the Diem Dollar, Bloomberg reported.

Diem, which means “day” in Latin, signals a “new day for the project,” the release said.

The name change is also about “reinforcing its organizational independence as it progresses toward regulatory approval for launch” of its first digital coin, according to the release.

“We like the connotation of it kind of being a new day for the project,” Diem Association CEO Stuart Levey told Bloomberg. “We wanted a new start.”

“The Diem project will provide a simple platform for fintech innovation to

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