Facebook’s Libra cryptocurrency project adopted the name Diem in 2020.
The project was formally announced as Libra on June 18, 2019. It proposed a permissioned blockchain and a cryptocurrency intended for payments, overseen by the Libra Association. The plan attracted intense scrutiny from regulators and lawmakers concerned about monetary sovereignty, financial stability, privacy and Facebook’s influence over a global payment system.
In December 2020, Libra was rebranded as Diem, a name associated with the Latin word for “day.” The Libra Association was renamed the Diem Association at the same time. The rebranding was intended to distance the project from the controversy surrounding Facebook and the original Libra proposal, which had also changed substantially as the organization responded to regulatory objections.
Calibra and Novi were not the cryptocurrency’s replacement names. Calibra was the planned digital wallet, and it was renamed Novi in 2020. The Diem project never launched as a full public cryptocurrency: the association wound down in 2022 and sold its assets to Silvergate Bank.