Facebook earlier announced that Libra stablecoin would be backed by a basket of fiat currencies at 1:1. 50% of which would be on the US dollar. The German newspaper Der Spiegel reported that Facebook revealed the other 50% currency breakdown in a letter to Fabio De Masi, a German legislator and a former member of the European parliament.
The other 50% currency basket includes the Euro, the yen, the British pound, and the Singapore dollar with 18, 14, 11 and 7 percent, respectively. The Chinese currency Yuan is not included in the other 50% of the currency basket. This could be because of the relations between the US and China, and this could help Libra with regulators in the United States.
Officials from Facebook or Libra Association has not made any official announcement yet. Since Facebook announced the plan to launch Libra next year, regulators from all around the world have shown concern. Last week French finance minister said they would not authorize the development of the Libra on the European soil.
David Marcus, Facebook executive and head of Calibra recently took to twitter to debunk some notions surrounding Libra. Earlier, Marcus promised to US senate that they would not go ahead with the project without meeting all the regulatory requirements.