Facebook said: "Regulators must give us confidence in our ambitions to launch the cryptocurrency Diem with the digital wallet novi.
David Marcus, Head of Financial Services at Facebook, said he hopes to launch cryptocurrency and digital wallet next year.
Asked about major changes in financial services next year, Marcus said he hoped to get regulatory approvals to launch Diem and Novi in 2021.
Facebook-backed cryptocurrency has suffered volatility since it was announced last year, facing heavy criticism from regulators, with the brand being renamed.
The cryptocurrency was initially called Libra and was designed to be managed by a non-profit consortium of several companies called Libra Association.
Facebook also planned to launch a digital wallet called Calibra, which allows users to send this cryptocurrency to each other.
Libra was supposed to be backed by a basket of currencies, but regulators raised a number of concerns, such as Libra's impact on financial stability, data privacy issues and money laundering.
In April, the Libra Association reduced its plans, saying that the digital currency would be supported by only one country currency, rather than a basket of currencies.
Last week, the Union changed its name to Diem Association, while Facebook earlier this year changed the name of calibra to Novi.
The Financial Times reported last month that digital currency Diem was preparing to launch in early January.
Diem Association is currently awaiting approval from the Swiss Financial Market Supervisory Authority, the newspaper reported.
Diem is described as an cryptocurrency, but it is not like Bitcoin, where there is a union behind Diem, something bitcoin lacks, and is supported by paper currency, contrary to Bitcoin.
The Facebook CEO appealed to regulators to give a chance to Diem's currency and Novi wallet, saying: What we are asking for is to give us confidence.
He explained that Facebook could have built the cryptocurrency in a closed way, making it available only to WhatsApp and Messenger users, but instead entered into a union with other companies.
Efforts to launch Diem and Novi come at a time when central banks are also exploring their own digital currencies, and China has begun to conduct some real-world experiences of the digital yuan.
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