The Diem Association, the Switzerland-based nonprofit which oversees diem’s development, is aiming to launch a pilot with a single stablecoin pegged to the US dollar in 2021. The pilot will likely be small in scale, focusing largely on transactions between individual consumers. There may also be an option for users to buy goods and purchases, the person added. However, there is no confirmed date for the launch and timing could therefore change.
“I think it will get past the gates this year,” said Michael Gronager, CEO of blockchain analysis firm Chainalysis. “It would be a missed opportunity if not.” “At the same time,” Gronager added, “it’s one of multiple initiatives happening and it’s similar to Tesla buying $1.5 billion in crypto. This is just part of a big movement, not a new movement.