According to a Bloomberg report, CoinFlex exchange will launch physically-settled Libra futures contract on October 24. Investors would bet on the odds of the launch of Facebook’s crypto project by the end of December 2020. Since the social media giant announced to launch its cryptocurrency next year, the project has faced pushbacks from authorities all over the world.
The regulatory concerns have created an atmosphere of uncertainty on the launch of Libra. Earlier, PayPal pulled out from Libra Association after skipping an all member-meeting in Washington, which shows that partners of Libra are losing confidence in the project.
CEO of CoinFlex said that Facebook has the ability to rival the entire global banking system from day one, but when that first day will be is far from certain. He added that the political backlash has been brutal, and it’s anyone’s guess if the social media giant will get over the line.
CoinFlex’s futures will be settled in Libra tokens in the case if the crypto project goes live by the end of December 2020. And if Libra fails to get over the line by that time, investors will lose all their investments. The price of Libra will start at 30 cents that are set to represent that there is a 30% chance that Libra would go live before the decided time.
