Facebook’s Libra revamped with single currency, multi-currency digital coins

San Francisco: The Facebook-backed Libra Association unveiled plans Thursday to seek approval for digital coins in individual currencies, revamping its cryptocurrency initiative in a move aimed at minimizing disruption to the global monetary system.

The new plan submitted to Swiss regulators could scale back the ambitious digital money initiative unveiled last year and touted as tool for financial inclusion but slammed by global monetary leaders.