People refer to the new currency as ‘Facebook’s Libra’ but as Mark Zuckerberg testified to the House Finance Committee, Facebook is merely one of the 21 members of the Libra Associations that launched in Geneva. The association recently issued their new white paper in which they talked about creating stablecoins tied to national currencies (e.g., Lib$ and Lib£) alongside the original ‘basket’ stablecoin. The white paper says that the consortium hopes ‘as central banks develop central bank digital currencies (CBDCs), these CBDCs could be directly integrated with the Libra network, removing the need for Libra Networks to manage the associated Reserves’.