However, attempts and efforts to push encrypted currencies to mainstream use have been subject to global government regulation and political scepticism, with France and Germany saying they want to stop the use of Libra in Europe.
Bertrand Perez, managing director of the Libra Association in Geneva, Switzerland's second largest city, said the association was continuing discussions with regulators in Europe and other countries to alleviate concerns about Libra.
Speaking about the launch date of Libra in June 2020, Perez said that announcing the launch in June next year was just a plan, and if it was postponed for a quarter or two, it would not be a problem.
"it is important that we comply with regulatory rules and that we need to ensure that regulators agree with us and fully accept our solutions," Peres said.
In an interview with the media at the United Nations Office at Geneva, Peres also said, "We know that we have to answer many questions from government regulators on both sides of the Atlantic and in other parts of the world."
As Facebook expands into e-commerce, Libra will be supported by global physical asset reserves, including bank savings and short-term government securities. Currently, the encrypted currency is managed by the Libra Association, which has 28 members.
This structure of the management of Libra aims at promoting trust, suppressing price fluctuations that affect cryptocurrencies and eliminating adverse effects on commerce and payment.
Last week, David Marcus, head of Facebook's encrypted currency program, said that the company's plan to launch the digital currency in 2020 had not changed.
"the goal is still to launch Libra, next year," Marcus told NZZ, a Swiss newspaper. "until then, we need to fully address all the problems and create an appropriate regulatory environment."
So far, the libra has been overshadowed by facebook on the visibility of the libra project. However, Perez stressed that the association is independent of the social media giant and that Facebook has the right to vote on an equal basis with other members in its decisions.
Other members of the Libra Association, including Vodafone (Vodafone), PayPal (PayPal), MasterCard (Mastercard) and Visa. The association plans to recruit more members in the near future and hopes to include banks.
"it is well known that this project was incubated at Facebook and launched at Facebook," Peres said. But at an early stage, it was decided that it should be a public product, not controlled by a single entity. " Before starting his Libra job in May, Peres was PayPal's senior director of payment engineering.
"Libra is obviously an association, not a subsidiary of Facebook," he said.