In order to create a stable cryptocurrency, Facebook announces to refocus its digital currency project on the dollar. Thus, the cryptocurrency will become, the "diem USD".

Diem, the project to create private money of the future concocted by Facebook will focus on the dollar and the United States. The goal is to create a stable cryptocurrency, the "diem USD", backed by the world's leading currency.

Faced with the revolt of governments and the complexity of such a project, Facebook had revised down its ambitions. Diem will be a crypto whose price is stable (a "stablecoin") and which will be backed by the dollar. One diem dollar ("diem USD") will be worth 1 dollar.
This project originally had a global and plural vocation. This ambitious initiative initially aimed to create a single major composite currency, but backed by a basket of currencies (dollar, euro, yen, pound sterling...). He then considered launching several stable cryptos, each backed by a major currency (dollar, euro, pound sterling...).