My settings

28. January 2020 | Ad - Special Campaigns

Facebook Libra: what does 2020 hold in store?

Libra has been the focus of much criticism in recent months. The Facebook currency, it is argued, offers dubious data protection and harbors considerable risk for the world’s economy. However, those creating it remain convinced: Libra will arrive in 2020. Find out here what is really happening with this cryptocurrency.

It was the finance buzzword of 2019: Libra. No subject can have generated as much debate in the banking world as Facebook’s cryptocurrency. The social media giant gave fright to both the business world and politicians with its announcement of Libra. According to Facebook’s CEO Mark Zuckerberg, following a test phase its digital currency is to be introduced in the first half of 2020 and thus be made accessible to 2.4 billion potential users.

Swiss finance minister Ueli Maurer sees no prospects for Libra

In October, head of FINMA Mark Branson had been praising the creators of Libra for developing their cryptocurrency with the involvement of the public and the regulatory authorities. At the beginning of December 2019, Facebook expanded on the Geneva-based project with a second Libra company. The aim was to push forward more quickly with Libra. Then, just before Christmas, Swiss finance minister Ueli Maurer of all people issued his bombshell: “Switzerland cannot approve Libra in its present form.” Prior to that, key strategic partners, including Paypal, Mastercard and Visa, had announced they were withdrawing from the project. What had happened?

Potential risks to the world’s economy

Right from the outset when the Libra project was announced, the Facebook currency was a thorn in the side for European data protection  people: the technology would enable Facebook to track a user’s every step and every transaction and possibly to block transactions as it saw fit. This would allow people to be controlled to an unprecedented extent. Furthermore, the project might harbor major risks for the world’s economy. That is why major international organizations such as the European Union have prevented the project from being launched. Now the Swiss authorities have reacted too – Libra has no chance of being approved at the present time.

What is Libra?

Libra is intended to become a digital means of payment based on decentralized blockchain technology. It differs from previous cryptocurrencies in one respect: a reserve fund made up of various currencies is intended to prevent the huge price fluctuations experienced by Bitcoin, for example. Users can pay with Libra in shops at the till and in online shops. And they can use Facebook platforms (such as WhatsApp) to transfer money in seconds – without the intervention of banks, directly from user to user.

51,000 transactions in the test phase

However, there is also good news for the operators of Libra: in its test phase the Facebook currency notched up more than 51,000 transactions in the space of two months. Thees test transactions have no real value, which is why they are not subject to official oversight. Libra’s technical infrastructure has also been expanded and a new road map for 2020 has been launched. At present the teams are busy analyzing the test phase and putting improvements in place.

Digital currency from China

Even though the prospects do not look good for Libra at present, the project could yet be approved in 2020. The reason: the digital yuan. According to the experts, western governments will have no choice but to approve Libra. Otherwise China could gain a major advantage with its own virtual currency. And time is marching on: the test phase for the digital yuan starts at the beginning of 2020. This digital currency issued by the Chinese central bank could have a considerable influence on the world’s economy.

Challenges for the banking system

Whether the Facebook currency arrives or not – the banking system faces major challenges in 2020. The trend is quite clear: according to Swiss finance minister Mr. Maurer, in the future traditional banks will no longer be needed for certain transactions. “The current banking system will be shaken up once again,” Mr. Maurer predicted at his end-of-year media conference. Meanwhile, the next player has already announced its foray into traditional financial services: Google. In a project called Google Cache, the tech giant wants to offer free current accounts from 2020. For the traditional financial industry, the air will become very thin in the new year.

The key points in brief

  • Social media giant Facebook has announced the introduction of its own cryptocurrency Libra in 2020.
  • The authorities see a danger that Libra might have a negative impact on the world’s economy and would not offer adequate data protection.
  • Banks’ transactions business faces major changes – with or without Libra.


Blick: «Libra» zum Schweizer Finanzwort des Jahres 2019 gekürt.
Finews: Was Mark Branson aus der Operation Matterhorn gelernt hat.
Inside IT: Zweite Genfer Firma für Libra gegründet.
Neue Zürcher Zeitung: Finanzminister Maurer: Libra derzeit ohne Chance auf eine Bewilligung.
Netzwoche: Das sind die Alternativen zu Libra.
CNBC: PayPal withdraws from Facebook’s libra cryptocurrency.
CNBC: Facebook’s libra cryptocurrency coalition is falling apart as eBay, Visa, Mastercard and Stripe jump ship.
Crypto News Flash: Facebook Libra präsentiert Roadmap für 2020.
Libra: Five months and growing strong: the Libra project.
Libra: Libra Core Roadmap #2.
Libra: Glossary.
South China Morning Post: China’s new digital currency ‘isn’t bitcoin and is not for speculation’.
T3N: Google will zur Bank werden.

deritrade is the issuing platform for structured products. Would you like to find out more? Please don’t hesitate to contact us. Our experts are here for you.

Telephone: +800 5440 5440

Online: Contact us directly via the contact form


Marc Fankhauser, Client Service Specialist


Would you like to become a client or do you require further information?


Artikel teilen


Terms and conditions of use

Local access restrictions for the Vontobel website

The information on this Vontobel website is exclusively intended for people with registered domicile/place of residence in Switzerland. Visitors from other countries are not permitted access to the Vontobel website.

Conditions of use and legal information

When accessing this website of companies of Vontobel you declare to have understood and recognise the following conditions of use and legal information. If you do not agree to these conditions, do not access this website. All copyrights and other rights on the entire content of this website are exclusively and completely reserved by Vontobel Holding AG “Cosmofunding”, “Vontobel” and the Vontobel logo are registered trademarks. By using this website, the user will be granted no rights to the content, to the registered trademarks or to any other elements of this website. Downloading or printing of pages is only permitted with full reference to the source. Any other use, in particular, complete or partial reproduction or publication for a public or commercial purpose, is only permitted with the prior written agreement of Vontobel Holding AG and with full referencing.

No offer

The information and opinions published on this website in no way constitute a request, offer or recommendation to use a service, to purchase or sell investment instruments or to carry out any other transaction.

No basis for decisions, no advisory activity

This website is not an investment advisor or any other decision-making aid for financial, legal, fiscal or other consultancy questions. Neither does this website replace qualified advice necessary prior to making any investment decision, especially relating to any associated risks. No investment or other decisions should be taken based on this website. We would like to stress that past performance is not necessarily an indication of future performance and assume no liability, neither formally nor by implication, and no guarantee with regard to any future performance.

No warranty

Vontobel does in no way guarantee the correctness, reliability or completeness of the information and opinions published on the Vontobel website or of any results gained by use of this website. All available information, such as for example financial market data, market prices and any other financial market information, is based upon or by reference to carefully selected sources which are believed to be reliable. Any expressions of opinion, assessments and outlooks originate from its authors and date back to the respective date of issue. Vontobel bears no obligation or responsibility with regard to the updating or correction of such information. This website may be amended and modified without prior notice at any time.

No guarantee

Moreover, Vontobel accepts no responsibility and gives no guarantee for the correct or uninterrupted functioning of this Vontobel website, for the rectification of any errors or for the freedom of this website or the servers from viruses or any other harmful elements.

Exemption from liability

Vontobel is not liable, even in case of negligence, for damages or consequential damages resulting from, or in connection with, access to or use of, or the impossibility of access to or use of, this Vontobel website.

Links to other websites

Vontobel has not checked the other sites linked to this Vontobel website and is in no way responsible for the content of these websites. If you activate certain links, you leave this Vontobel website at your own risk.


Vontobel does not exclude the possibility that, under certain circumstances, e-mails sent to the Vontobel Group may be read, amended, diverted, falsified or destroyed by third parties. Vontobel refuses all liability for the transmission of data by e-mail.

I accept the terms and conditions above and confirm that I am resident in Switzerland and neither a US Person nor a resident of the USA or the EEA.

Privacy settings

We use cookies to make our website user-friendly for you. Please click “accept” or “customize settings” to let us know your preferences for how we can use cookies. Detailed information on the handling of cookies and data privacy, as well as your right to withdraw your consent at any time, can be found in our data privacy site.

Privacy Policy

Please take note of our Privacy Policy and our data protection Website before you use this service. By logging in and your continued use ofthis service you confirm that you have read and accepted our Privacy Policy and agree to the handling of your data in accordance with our Privacy Policy. It is important for us to confirm that your data will neither be used nor be shared with third parties for any other purposes.

I do not Accept

Register for free

deritrade is the leading multi-issuer platform for external asset managers and banks in Switzerland and Liechtenstein.

By ticking the box below, I consent that the data collected here is being recorded, processed and used by the Bank in accordance with the Privacy Policy. I further confirm that I have read and understood the Privacy Policy . I consent to the Bank passing on the collected data to other domestic and foreign companies of Vontobel and that it may be used by the Bank and other Vontobel companies for the purpose of maintaining group-wide client relationships and providing information about new products

Contact person

Thomas Stadler
Head Distribution Schweiz, Platform Solution

Telefon:+800 5440 5440

send e-mail

Please note, that if you contact us, your voluntarily communicated contact data are collected, processed and used exclusively for a specific purpose, either to receive and answer your request or for technical administration in accordance with the Privacy Policy. Requests – and respective data – from persons outside Switzerland will be deleted.