Facebook’s Diem Association is being held back by another crisis, this one involving the Association’s brand new name.
UK based fintech firm Diem is looking into Facebook’s digital currency project recent rebranding, as the social media giant and its cryptocurrency partners face legal allegation by the UK firm.
Facebook’s Libra Association was recently renamed to Diem, as early as a couple of days ago, as of writing this.
UK’s Diem is a startup offering the instant selling of consumer goods, with the option of issuing its very own Diem debit card. The company is yet to launch its services to the public, yet it did just have a soft launch this October.
Reports reveal that Diem has still not taken any drastic measures against Facebook and its partners. For now, Diem has only decided on issuing a cease and desist letter. However, CEO and founder of Diem Geri Cupi shared his concerns,
“As a small startup, we are concerned that customer confusion resulting from Libra’s actions will significantly impact our growth.”
All the while, the Dime Association is planning on a January 2021 launch.
The Diem association changed its branding for the main purpose of distancing itself from the backlash it previously received from global regulators.
scott teeselink
Has anyone delt with Forex Cloud out of the UK? A withdrawl is practically impossible.