Facebook's Crypto Assets project renamed to Diem, targeting the US dollar stablecoin.

The cryptocurrency project under Facebook has announced its rebranding to "Diem", aiming to emphasize its independence in order to gain recognition from regulators. This decision is led by the Diem Association, headquartered in Geneva, whose CEO Stuart Levy explained that the rebranding aims to reflect the simplification and improvement of the project's structure.

The term "Diem" comes from Latin, meaning "day". Livy stated that the current primary goal is to launch a digital currency pegged to the US dollar. However, he did not comment on a specific timeline for release. Media reports suggest that the project could go live as early as next year, provided it receives approval from Swiss regulatory authorities.

This renaming initiative reflects a significant shift in the Crypto Assets project, demonstrating its efforts to maintain a certain distance from the original initiators in response to regulatory concerns from various parties. At the same time, the choice of the name "Diem" may also suggest that the project team hopes to embark on a brand new chapter.

Although the specific launch date is still unclear, the rebranding undoubtedly injects new vitality into the future development of the project. All sectors of the market are closely watching Diem's subsequent moves, especially how it balances regulatory compliance and technological innovation.