Facebook's Diem says it has withdrawn its application for a Swiss payment license and will shift its operations to the US via a California state-chartered bank (Ryan Browne/CNBC)

Ryan Browne / CNBC:

Facebook’s Diem says it has withdrawn its application for a Swiss payment license and will shift its operations to the US via a California state-chartered bank  —  – Diem, the digital currency project backed by Facebook, has abandoned plans to secure a payment license from Switzerland’s FINMA watchdog.

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