Users would be able to carry out transactions through the proposed payment platform in either the private Libra currency or in the digital equivalents of sovereign money, like the U.S. dollar or the euro. Facebook is also pushing back the release of its Calibra wallet from June to October, and may restrict the product to markets whose local currencies it supports. The social media giant said it is still committed to Libra; the non-profitLibra Association, which governs the project, said its goals and basic design principles have not changed. (The Information, Bloomberg)

Talking point: Central banks and lawmakers have expressed concerns that if coins issued by private tech companies become popular, they could undermine countries’ sovereignty and governments’ ability to influence the economy through monetary policy. Calibra head David Marcus has denied that Libra is meant to replace national currencies. Accepting digital versions of dollars and euros is one way Libra can try to minimize that threat. But it could reduce consumer demand for the coin, since its promised benefits—cheaper money transfers across borders and easier transactions in countries with less developed financial systems—will apply to all the tokens it includes.