RE: What should we expect from an institution-owned cryptocurrency?

Zuckerberg's project was very ambitious, but at the same time marred by its own roots - to take the best of crypto and trusted organizations, actually allowing payments and interoperability with fiat currency. A stable cryptocurrency backed by institutions cannot be made like that, because it just goes against many basic principles of centralized banking. For this reason Libra is not gonna happen in its original form: if Facebook is ever really launching it, it's going to be a very watered-down version akin to virtual currency from a video games (not much different from redeemable coupons).